You're right that college is being treated as a credential over education.

But the majority of millenials aren't learning outside of college. They sit at home smoking hookah, playing videogames, or going to bars. But few have a book on "stock trading" or are becoming seriously multilingual, or learning to code.

Granted, some are doing that. But it's only some. Is this how it's always been? A small minority actually becoming skilled in something? Maybe. Feels different though.