I always felt that learning depends largely on you as a person -- your skills, intelligence, motivation. No one can simply be parked in front of a book -- or computer -- and become instant scholar. In a sense, you either have it or you don't.
However, universities do offer the structure & focus needed to maintain discipline. For this, I will give them credit. Self-learning only works with those who make it a habit.
Re law school -- maybe only those who truly love the study & practice of law should be there, and not the liberal arts majors simply in search of work.
I will not dispute that this is better than learning on your own, but I have come to regard the University system as a lot like malware that might do something useful, but at the same time infect your system with something horrible and difficult to get rid of. (Indoctrination in a Leftest world view.)
Considering that, along with the excessive cost (for the actual services rendered) and the deal becomes all that much worse. The Cost vs Benefit equation doesn't balance.
Universities cost far too much for that little "extra" they deliver over and above learning on your own. Even Glenn Reynolds often points out you would be better off investing the money used to pay for University schooling rather than spending it for a "credential."
Another aspect of my thinking is that if all these left wing socialist professors want to preach socialism, the least they can do is live it, and stop getting so much money for their labor.
They should only get so much money as they need to live humbly, just as a good communist peasant should.
:)