Because how you spend your time is different when you need to work for a living and when you do not. If that's not transparent, this can't really be discussed. Spending 4 years and $300,000 is "fine" if you have a trust fund and "extremely stupid without a return-on-investment" if you don't.

Uhm, why does the individual pay $300,000, sounds extremely backwards?

That’s not a fact everywhere.