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The data simply does not support that hypothesis.
The majority of degrees are in valuable and complex fields, the meme of everyone getting degrees in underwater basket weaving are not based in reality.
Couple things. Business degrees are a wide range. Some are the easy way out, the whole "I only want to work for myself mentality" . Social sciences are a dump stat. Really shows why people are having so many issues finding an actual career. For the rest, the graph doesn't break down into what it entails. There is a lot of degree subsets that aren't worth it at the end of the day. Trust me you can break down just engineering into hundreds of categorizes that are stepping stones for something better. Try harder.