Which is why the real answer to this is actually an older paradigm: apprenticeship.

Companies should be doing their own training for their jobs, and university can be freed up to actually be about intellectual pursuit rather than economic pursuit.

It was companies themselves who created this issue anyways, by demanding degrees for every damn job, regardless of whether a degree could prepare you in the first place, and slashing entry level jobs to almost nothing. Then they started using degrees as a proxy for work experience (and I mean that in the literal sense; "bachelor or 4 years of experience" is common to see in job reqs, despite no bachelor degree actually being equivalent to 4 years of full-time job experience), which just further pushed incoming students to expect that to be the purpose of their time at University.