If you're interested in algorithmic development and the actual theory of computer science, you'll probably enjoy most four-year degree programs in that area. If, however, you're studying computer science because you want to write software -- and that's what matters to you -- you're probably going to be frustrated that the coursework veers more strongly towards the theoretical.
I think that most college degrees are more about showing some sort of credential for inexperienced people than providing solid value in and of themselves, but I also don't think they're completely useless. It really depends what you're trying to do.