While still unproven alternative education techniques such as online or internships/apprenticeships may turn out to be more effective and much less expensive. If employers become convinced traditional diplomas and degrees are unreliable indicators of quality and better alternatives exist, we could see a sudden shift away from traditional education.
Would you rather hire someone with a middle ranking college degree or two years experience and a letter of recommendation from their boss? Or a certificate from a reputable online program in the exact skill you need?