Why don’t we declare the bachelor’s degree obsolete? No, not education, not colleges and universities, not professors or libraries or students, just the four-year bachelor’s degree. (You might turn on your iPod while you read. You’ll see why.)
Western history traces this four-year package back to the University of Bologna, before Gutenberg, when the pedagogical constraint was the shortage of books. Students had to gather in large rooms while the professor read from one of the scarce books. Only Wikipedia, in my scrounging around, notes that the University of Al-Karaouine in Morocco and Al-Azhar University in Egypt preceded Bologna in their founding and in granting multi-year degrees.
Before dismissing any questions, note that this academic year has not been kind to U.S. higher education.