That doesn't seem necessarily right. College is an investment of limited size that you can more or less make once per lifetime, and the market for it is about t

That doesn't seem necessarily right. College is an investment of limited size that you can more or less make once per lifetime, and the market for it is about the furthest thing from an efficient or free one you could ever think of, with subsidies and regulations and externalities coming from every angle. It's not obvious that it might not persist as an "unreasonably" good or bad investment.