Yes, for some students college is about an education, and they find a college that reflects that world view. These folks end up in charge.

Maybe, some students want both.

Different colleges, remember that there are 1600 4-year colleges in the US, will emphasize different things. Some, like Knox, are seriously about education and learning. Some, like MIT, are seriously about technical training and jobs. Some, like pretty much any school with “state” or the name of a state in its name tries to be all things to all people.

The rankings industry looks only at a small segment of the things that make colleges different. In reality (see How College Affects Students) the learning outcomes in majors does not vary that much from campus to campus. What is different is emphases on liberal arts, education, critical thinking, and involvement.