I agree with the idea that not everyone should go to college, but only in the sense that there are a lot of good jobs where what someone learns at a LAC is probably pretty superfluous. The only problem is that many employers require a bachelor's, using the degree as a proxy for competence, when nothing learned in college is necessary for the job.
Of course, that gets to the general point that college degrees are often just used by employers as a cheap way to sort candidates (allowing colleges to do the work for them) for entry level jobs.