The math of college still holds true in the US depending on what you major in [0][1].
Most non-college goers are not attending apprenticeship programs or joining union jobs - which nowadays increasingly require a college education [2].
This isn't the 1970s anymore where you can go to the local factory and screw parts by hand - manufacturing, carpentry, metalworking, and other industrial arts increasingly require STEM fundamentals which for most students they can only acquire in some form of college (be it 2-year or 4-year).
I've seen this first hand now that I've been taking carpentry courses at my local CC as a side hobby - the union track apprenticeship program that's part of the CC expects an associates degree at a minimum.
My outcomes would be better if I were just richer, smarter and better looking.