He seems to have this cute idea that you pay $120k to a institution of higher learning, then you dedicate all of your time to academics, then you emerge with a well-refined body of knowledge in your particular field. I thought this is how it worked too, before I attended a college.
Maybe his point is that you shouldn't be taken seriously if you pay $120k and spend 4 years doing something where you're not deeply intellectually invested, but it's hard to have the confidence at 17 to be the contrarian that doesn't attend college.