You are strawmanning. I wasn't claiming that all the knowledge that comes from people with advanced degrees is useless.
Most people don't need an advanced degree to contribute to society. Proportionally, only a small number people are needed to make transistors and develop mathematical concepts for computers compared to the amount of people using their work.
While it is necessary to have people with PhDs conducting research to have progress, hackers and doers (which base their work on the research) are also needed to exploit the results of research.
It is also possible to not have a degree and still succeed in life, and do things that you love.
Moreover, I think that nowadays it is becoming easier to get knowledge (that traditionally was only accessible in Universities) for free on Internet. I think traditional education system is extremely limiting and archaic. It permits people which excel in only certain kind of environments to conduct research.