Which I think is the heart of the complaint here.
I think the real problem is not the number of people getting a generalized liberal arts degree vs the number of people getting a STEM degree.
Both of those degrees are expensive and worth it.
Nor is it the number of people getting what I will call the specialized non-stem degree.
Prime examples of this would be "Hotel Management", "Sociology", "Graphic Designer", "illustrator", "Teaching."
Note, this is not an insult to those fields. The world needs people with those skills. But if you want to be a teacher, get a BA in English or Mathematics, or Biology, not in teaching. My sister has a Masters in sociology - a well worth it. But as a College level degree, it is worthless. You can't get a job as a Sociology Major, nor does it help you get into a Masters Program more than a degree in Psychology. No on goes looking for a painter with an Illustrator degree, they look for a painter that paints WELL.
Some of these 4 year degrees would do much better as a 2 year program. Others should simply get a liberal arts 4 years BA and then get work or go into a post-grad study. Some should never go to college at all, better to get some real life experience.
The problem is that certain job fields have NO business getting a 4 year degree in that subject. There is reason to learn how to lift off an airplane if you don't also learn how to land it. Four year programs for certain things make no sense.
The problem is people have been caught up in the idea that a College education is the be all and end all. So we took a bunch of regular jobs that don't need or want a BA and created BA's for them. Some of them need Post-Grad work, others could get by on a couple of Community College courses, rather than spending the huge amount of money for a BA.