If there is currently an over saturation of bio-chemists in relation to the amount of jobs open, he cannot add anything to the greater food. From that, there is no reason that his degree/hard work should grant him personal benefits, as he would be taking more than he is giving. Very few people would argue that someone who does a bunch of worthless hard work (something like digging ditches and refilling them) deserves stuff, simply because it required a lot of effort, as what they are doing adds no value to society. Therefore, if the biochemist has a degree that took him a lot of time and work, but isn't needed, there is no reason he should get benefits just because he did work.

I believe the issue is people saying "hard work leads to success" fail to add on that "hard work leads to success, given that you are doing something valuable".

The hardest worker I've ever met was the manager of the produce department at a grocery store I worked at as a teenager. He was here on political asylum from a South American country. His (and my) manager lied to the state department to get him deported because "Mexicans need to go back to where they belong". Afaik he's now rotting in a particularly shitty prison despite doing everything he should have and more.