College may not make you a better, safer, or more professional pilot. But it will make it harder to enter in to the industry, which will reduce the number of qualified pilots in the future, which raises pay, and that is good for all airline pilots.
Some pilots want the FAA or government to set a different minimum wage for pilots, but the FAA or the government is not going to do that. So we need to make higher barriers for entry; and the college degree, 1500 hrs, and ATP is a great way to do that. Will horrible pilots meet those requirements and get on with an airline? YES! But I think it would be less than if they had no degree, 215 hrs, multi-commercial.