Right - I think a lot of people hope that by being more educated they'll get "smarter". That's not really how it works. You just get more educated.

In software, you DO need a lot of skills. But I think more important than that is having the ability to learn new things/skills quickly (being smart). The industry is always changing and evolving.

College is only going to get you the skills - maybe, a lot of times they teach you things that aren't that useful in the job market and don't teach you the things that are.