There are so many flaws with this idea. For starters so so many jobs nowadays require a degree of some description, and as such axing almost all universities would require an entire overhaul of what is expected for a specific job, and in many cases leave so many jobs understaffed due to lack of well educated applicants.
Second, and in my opinion most important is that the actual ease of getting a degree isn't a problem, because it's been counter balanced by the fact that many of these degrees won't get you jobs anymore, just look at a universities post grad employment rate, the best ones are higher, so why get rid of the others when clearly they're still helping to provide workers in certain areas, it doesn't hurt anyone?
You also are unfortunately like so many these days who have forgotten the real importance of uni that isn't just about earning a degree, but rather learning independence and becoming prepared for the real world and being able to stand on your own two feet. Something which ironically the top universities are the worst at, as they still spoon feed their students by not permitting them to have jobs, or providing food. I'd take my university choice over Cambridge or oxford any day because I am employable and I actually have life skills, and have never moved back in with my parents since leaving uni. Independence was far more important than my degree which was still nice to get.