If you think that the university you're in isn't good enough then why did you decide to go? Anyway I don't know all your specific circumstances but if you think it's that bad then you should probably drop out. After all you said that your main goal is to find a career to sink your teeth into every day and find meaning, but you seem confident that you will not find that through your degree.
However it sounds to me like you're being too cynical about your degree. Obviously you would have stronger graduate prospects going to a better uni and I agree that degrees are becoming more and more saturated but a top 50 uni isn't even that bad.
Also most of the time people's talents do not overlap with their passions so you have to make compromises within your career. If you are good at law and think you could make good money from it then I'd stick with it as long as you don't hate it too much.