Oh, please. Spending 4 years in college just means you are slightly less of an infant when you enter the workforce.
Recent college graduates and recent college dropouts are alike in a few things: they are still getting pimples, and they have tunnel vision because they're barely off training wheels and are on their very first trip around the block.
They can be tremendously smart, talented, and energetic, but at 21/22, whether they went to college or not, they are not very experienced in either adult life or professional life, and that lack of experience is a real handicap.