How many top physicists didn't go to university? How many Nobel Prize winners (aside from Peace or Literature)? How many degree-less engineers do you want to be building your bridges? Or surgeons operating on you?
This is such a software dev centric view. In software it kind of works because you can learn and "practice" with just a computer. This is also why there's a fair amount of car mechanics without degrees. But it's much harder to "practice" many other things. As a software dev who never went to university, I also readily admit that I never did some of the more theoretical foundational stuff. Is that relevant in my day-to-day work? Mostly not. Until it is.
Do you believe that if you were given a diploma saying you passed med school with flying colors, you could just go be a doctor? Knowledge doesn't matter, it's all about that diploma?
Personally I think it's the exact opposite. The diploma doesn't matter, it's the knowledge you want. CS is a good example of that, plenty of great programmers with no degree. Diploma doesn't matter.
A lot of my peers slacked off in university, since then I've had an extremely easy time getting jobs whereas I know many of my peers have struggled. Most of my job applications have resulted in interviews and all of my interviews have resulted in job offers.
We all have the diploma, difference is knowledge. While my peers were struggling with their assignments I was already done, spending my time helping them and studying further. When they were finally done with the assignment they slacked off until the next thing they were required to do, while I was programming for fun, exploring new things, studying to prepare for every lecture etc.
University is the perfect environment for learning. You have lots of time, guidance, peers, resources etc. The fact that most people completely ignore that opportunity does not change its value. You get what you give.
Someone with a bachelors in history has a much higher likelihood of being hired for an entry level sales role for example, than someone without one. But that bachelors isn't conferring any unique knowledge about sales.