First, I'd question the use of the word 'dumb'. That said, I think the question is worth some thought. My thought on the matter is that there are plenty of vital roles that don't depend on college, e.g. plumbers, fire fighters, and many kinds of heath care and service sector roles. College might be best suited for those who deal in abstractions... but there are plenty of necessary concrete jobs as well.
There will have to be more of them than college jobs, as there are more people with "less than college" smarts. Those jobs don't seem to have materialized.
