I honestly think that's a bit hard on kids. Leicester Uni is a very successful traditional university, but De Montfort has got a really record of getting people in to jobs with business skills that the trad uni often overlooks a bit. It is also good at getting people through a degree who have been out of education for a few years and didn't do well in the traditional school environment. I remember they were my back up option, needing two Ds at A level if I didn't get in to dirty Leeds (BBC). Without the culture of retakes that we had at GCSE (now thankfully stamped out), it's possible for a student to have a few bad days on their exams and need a back up like that.
Also, a lot of funny-subject stories that appear in the press end up to just be regarding a course or module within a degree (for context, my degree contained 32 modules and a major project)
Universities do need to make money, but the only way they can make anything close to break-even is through overseas students who are charged a lot more.
Having said all that though, I certainly remember kids at my university who were there because they didn't have anything better to do. Generally they didn't work at it and either dropped out or eked out poor degrees, and didn't get great jobs. There's no way they were close to a majority though, and I wouldn't want to see a clampdown that would just as likely stop other people going.