Trade schools should definitely focus on ROI, and a lot more people should attend them. The idea of the public university is to bring a traditionally aristocratic practice - the devotion of several years of one’s young life to not-necessarily-practical intellectual pursuits - to the middle class. I think our civilization would lose something worthwhile by returning this practice to the exclusive domain of rich families. Much the same as if we sold off all our public parks for development.
The issue is that we have democratized not only the class background part but also the “intellectual pursuits” part. College should be a lot more selective and a lot more rigorous; only a small minority of students have any business attending. The rest can get their credentialing and coming-of-age ceremony in an ROI focused trade school.