My parents strongly urged all of their children to pursue professional, specific degrees: engineering, law, medicine, or accounting/finance. They reinforced time and time again that "liberal arts degrees" provided fewer career options, and to put it plainly, that I would probably end up broke if I chosen that path. I don't think they would have provided financial support to study something like, for example, music. Or even psychology, for that matter, unless the goal was to be a PhD/academic.
I agree with your points, however, that degrees do not guarantee employment and we should not mislead students. Too many students think "degree = job". Having observed the Norwegian education system from afar (Norwegian mother & family), I advocate the way they do it and the way many Europeans have vocational programs and opportunities for technical training as an alternative to university. Even the janitors in Switzerland may train for as much as 3 years ( see https://www.swissinfo.ch/eng/society/swiss-skills_training-t... ). Although, I do not know how that would work in the American culture, where tradesmen typically are not respected and do not make as much money as engineers and the like. Income inequality is a much bigger problem here than in some of the Scandinavian and European countries.
TLDR: degree != job, if paying for degree, get a technical one (engineering), accounting/finance, or legal/medical. Make good grades. Grades are more important in some professions than others. Don't expect to get a job with a liberal arts degree.