Of course there are other fields for which a formal education and certification is still important (medicine is the most obvious one). Also, there are other reasons to go to college besides increasing your value as a worker: it’s a life experience, a good way to meet like-minded people, and it provides a good place to learn from others (of course not the only place or even the best, as was the case before the internet). Unfortunately I do not believe those reasons justify the cost of college in the US for someone who’s not quite wealthy. I’m sure the deans of Ivy League universities would entertain a different opinion, given that the future of their industry depends on the perceived value of their services. What they won’t say is that the commoditization of degrees caused by the expansion of their business means that having one is no longer the differentiator it was one or two generations ago.
In conclusion, I don’t think it will be indispensable for my son to pay hundreds of thousands of dollars to become a successful professional. He may choose to do so if he wants to enter a field requiring access to expensive laboratory equipment, or one requiring legal certification monopolized by universities. However, there’s a growing list of professions that will employ smart and resourceful people regardless of where or how they acquired their skills.