Sometimes the opposite of a good idea is, as Niels Bohr said, another good idea. But the converse is also true. The opposite of a bad idea can easily be an even worse idea. Something like this seems to have happened with the expansion of British higher education.
When I left university in 1988, if you wanted a reasonable first job, a degree from a Russell Group university was probably sufficient but not necessary. Now it seems to be necessary but not sufficient. The result is that a large number of perfectly capable but non-academic people are excluded from having a stab at many jobs, where for all we know they could be brilliant. But it has also led to the emergence of bizarre and wasteful forms of hyper-competitive behaviour among those who play the credentials game. And it has become a game.