I think a lot of this stems from the complete removal of social safety nets, which means that employers can demand just about anything from potential employees.

I think a lot of this stems from the complete removal of social safety nets, which means that employers can demand just about anything from potential employees. Low wage jobs have shitty wages and conditions, because "at least you're not living on the street". Professional jobs (and the academic institutions that support them) can demand insane requirements for their candidates, because "at least you're not flipping burgers." This leads to young people flocking to different degrees in a desperate attempt for some level of security. There pushed by the promise that if they bust their ass with a degree, maybe they'll get a decent job that allows them to eventually retire. Ultimately, this isn't a college problem, or an "MLM" problem. Conditions won't improve unless people have the ability to say no to unreasonable demands.