Knowledge and skill-wise, it's obsolete for the vast majority of jobs that exist, but in reality, it will be a struggle to get hired without a degree, not just because of the status marker that is a degree, but primarily because industries are increasingly getting into bed with colleges: modern hiring pipelines now begin in college, with unpaid internships being an almost necessary entrypoint for a variety of industries and roles.

Modern students who someday want a job are effectively paying (college tuition) for the privilege of working for free (unpaid internships) just to have the chance to one day get a paid position with industry incumbents. Typically, an apprentice is paid for their work, but rebranded as an internship, suddenly students have no problem paying to work instead of getting paid to work.

It's especially spurious given the scope creep of a lot of these apprentice-internships. Students are so desperate and indoctrinated that they'll acquiesce to such a poor deal. Companies learned of this desperation and are taking advantage of it, getting free work while the student pays for the opportunity.

What company wouldn't take advantage of that deal?