Yes, college is expensive and I absolutely think something should be done to resolve that. And certainly not everyone needs a BS to be productive citizens. But societies "reverence" for the Bachelors degree was earned. Historically, these programs equip people with the background and education necessary to advance their careers.
Like many people here, I have a BSCS, and if computing became obsolete tomorrow, I feel entirely confident in my ability to transition into many other technical careers. My feeling is that a BS should be designed to open up entire classes of career options for people. But I also feel that people who opt for technical training in lieu of general education shouldn't be upset when they find out they can't transition as easily into other fields that require skills they may have never learned.
I honestly think this article serves as a cautionary tail to reinforce Bachelors "reverence" more than it does to dispel it. A person who spent years learning the depths of Italian cooking shouldn't be surprised when people don't want him managing their businesses. Knowing how to field for truffles and prepare them in a traditional way is nice, but it's not analogous to knowing how to run the logistics of a business.