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I think it's less about if you go, and more about what you study. The majority of those in community college are not majoring in English, or Theatre, or History, or the worst, Undeclared. They are generally a few years older on average, paying for it themselves, and are studying nursing, or teaching, or some other useful thing, because they've tried the real world and want something better.
If you go to a four year university and study engineering, you'll probably be okay. Study something without a lot of career structure underneath, like economics, for example, and you're going to be unemployable compared to the guy who became a lab tech at the local community college.
You have to go to college for a reason, not just because college is the thing you're supposed to do.
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