agree with you there sunny.
like everyone else has already stated, if you wish to pursue certain careers (medicine, dentistry & law being the top 3 that come to mind), uni is non negotiable. I do believe most of the real learning however, takes place on the job. it's hard to get a practical sense of what your chosen job is about doing uni assignments.
my commerce degree was like that...the theory went only so far and I reckon 95% of being an accountant was learned on the job. for instance, my degree didn't touch on gst at all so I had no idea what a bas was once I got out into my first job. with a job like accounting, I reckon a degree is just a piece of paper. there's absolutely no reason anyone who was so inclined couldn't just walk into the job and learn it all on the job.