If the universities were not just free, but had lots of other benefits to make them appealing.... and they taught all the development and restored fields to qualify them to work at FB, GOOG ASPL, MSFT, whichever TGU (Tech Giant University) they attend.
Time delays in the University model (for one thing) make it hard to produce what is needed. For instance if you want to "learn deep learning", you could get a PhD, and maybe 9 years later you will be an expert, but 9 years is a very long time and the field may be tapped out and deep learning PhD's will be driving cabs.
No. Trade schools, yes, of course -- they (for-profit companies) are the only ones in a position to teach students how to work in the industry. But universities are different type of institution, they should be conducting research, teaching topics more theoretical/abstract/fundamental for the field, and should not depend on whims of industrial giants.