For a lot of people, going to college is going to be a great opportunity. Not many people can simply leave school at 16 for a meaningful job that gives top tier work experience. You need to live in the right area and either get really lucky or know the right people. A lot of things need to line up well for you. A bachelor's degree is guaranteed if you can pay for it and pass the units, something that doesn't need as much of life to line up perfectly for.
Within a couple of years of starting my CS degree, I was far better at programming than every hobbyist programmer I've met. I didn't have many opportunities out of school. I was from a poor country town that topped the state crime statistics. I know my mum hadn't finished high school and I don't think my father did either. I joined the military, got a trade and went to university at 30 as a single father working full time. University changed my life for the better, gave me a lot of tools and made me much more valuable.