I'm uncomfortable with the idea that a university degree is entirely about workforce skills.
Would our society be better if more citizens were liberally educated and thusly enriched? Perhaps. But that doesn't invalidate the desire to offer students greater opportunities at lower opportunity cost.
Can most of these aspects of a "more well-rounded education" not come from reading, travelling and extra-curricular activities (like music lessons and trips to the theatre)?
But, It's a rational view. The soaring cost of college is what makes it largely an economic proposition for many these days.