Dale grossly overestimates how smart most 18-year-old college students are. If you want to make college obsolete, start by making high school harder, to prepare them to be independent at adult age. Saying "no college" to the students who actually need it is detrimental. After attending college for a year which ended a few weeks ago (yes, I dropped out), I can make a decent guess that throwing many of them in the wild will not yield the incredible results that Dale postulates (and I would, in a perfect world, wish for.)
He says it himself: "sociology professors Richard Arum and Josipa Roksa say that 36% of college graduates showed no improvement in critical thinking, complex reasoning or writing after four years of college" ... yet (1 – 0.36) = 64% of college students do show an improvement.
I'd imagine that Dale talks and hangs out with pretty smart young people (edit: and those that are skipping college themselves), so perhaps he has a heavy confirmation bias that doesn't consider the 90% of everyone else.
Your thoughts are welcome.