Has the decline of knowledge work begun?

Bachelor Degrees need a complete rethink, it was basically modified finishing school for rich capital owners, needing to make their children of proper class before they could take over their businesses.

It then became a vocational degree for the working class, despite being completely detached from useful skills for a wide swathes of degrees. The only value is that you could talk the talk and become a member of the professional managerial class if you impressed the right hiring committee/individual.

In spite of this, we decided the working class should take out crippling loans to pay for this degree, and be in debt for the rest of their working life.

It's not sustainable, and just forgiving the debt only will make it all more expensive and less aligned with actual results we desire (useful workers).

Well, these days you will need a non repetitive physical skill. ER doctor, electrician, comedy tour guide, painter, etc. If your job required you to sit in front of a computer, your job will be the first eliminated. Humans are quite cheap for physical labor compared to a full humanoid drone. Software costs are about to go to zero. Bachelors degrees would turn more into guilds.