Why do you think your experience allows you to make a general conclusion? There are at least a few universities which teach truly valuable things: work ethic, overcoming difficult problems, and using practical (and modern) tools.
Which universities are you referencing? And more specifically, are they state or public universities that the average family can afford to send their child to?
Despite a narrow scope, I thoroughly believe that universities in general have evolved into a means for subduing the general public. It's an immaculately designed mouse trap that masquerades as a positive future. A great parallel would be diet pills. Just pay three installments of 49.99 and you'll be thin (read: drowning in employment opportunities) in no time.