Would you be ashamed if your child was a forklift driver? The world needs people to do useful things, and we shouldn't shame people for doing useful things.
I think at some point we'll all be screwed by automation (including teachers, developers, baristas and doctors) and too poor people won't have a reason to exist.
Better to get rich and independent from society before we can print human-like workers in a factory.
But, many (most?) people are status-conscious and equal pay != equal prestige. College is primarily about opening doors to higher prestige.