Agreed, I believe there are many significant unmeasured externalities - The benefits of financial educations, the computer science education that is making this

Agreed, I believe there are many significant unmeasured externalities - The benefits of financial educations, the computer science education that is making this very automation possible, the critical thinking skills etc. And on the other side of the coin, the opportunity cost of the student not working 4 years 'in the real world'. But generally (and probably controversially, although the following is not intended to devalue non-uni-goers) I would place massive value in it producing more scientific, globally aware people - And being the best structure to 'stand on the shoulders of giants' to embody human 'continuous improvement'