I don't (necessarily) think getting a degree should immediately lead to a job. If someone has low-to-no ambition and just wants any old job, why shouldn't they have a few years of fun?
That said, I think people should think carefully before they choose
what to study. If I'd have gone to university when most of my friends did, I'd probably piss my student finance away on a degree in Media or something

so I'm glad I waited and did something which lead to my job.
BUT studying any old thing was right for around half my friends, because they didn't use their degrees.
There's an argument to be made about how it's tax payers' money being spent, but I don't massively care about that because there are bigger wastes - both in terms of money spent, and uselessness of what it's being spent on.