College is a barrier to entry. Intentionally so, and one that provides added value of skill and education relevant to most industries.
If college wasn’t required, don’t think for a second that other barriers to entry wouldn’t be implemented. They would most likely also be costly, classist, racist, etc as it seems most systems set up in most countries are.
A change like that will provide a level of chaos that needs to be reorganized. Anytime that occurs, those with money and power organize it to fit their needs, wants, etc.
I don’t think those in favor of less college would get what they want from it other than less expensive labor.