I personally find subjects such as art, philosophy, and music to be incredibly important to humanity. Quite frankly, a large number of jobs don't require a college degree, much less one in STEM. All it takes is a decent head on your shoulders.
In fact, working in IT I have discovered people who major in any arts or philosophy to be far better than someone with a computer science degree. It takes a lot of creativity and abstract thinking to be exceptional in that field. Not someone who was only ever taught how to follow a process and think in a straight line.
I think the average IQ of an artist has dropped because only passionate and stupid go into art. 70% of those in art colleges are often stupid because unless you got to the cream of the crop art school most art college are degree mills. A lot of people I see going to art schools are the 'I wasn't really sure what to do in college (I'm a slacker with no fore thought), but my friends said I was good at art (they usually are a big fish in a small pond, lack a grasp on fundamentals, and turd polished their way to 10,000 Instagram followers) and I like art (they like doodling art for their forgiving audience that lets them slack on their comics month on end, refuse criticism, and start shit. They would burn and crash in an actual job), so I'll go to an art school'. The only places willing to accept these types are degree mills who wont really prepare them. Stuff like pic related want to make art their career
The other 30% know what their doing and if they get into a top college they can connect enough so they can get the job they want. The other half art stuck on instgram/youtube as hobbyist who will have hard time getting professional work because they lack connections. If you look black comics, cartoons, and the like were a wild west, but now it's don't have '50 connections? Go away'.
The biggest effect I see is the 'starving artist donate to my ko-fi' will increase. As I said 705 of artist are stupid so they will suck at budgeting their limited funds, get fired from any real job, and refuse to listen to criticism. A lot of kids get high off their blind fanbase giving them commissions, but aren't ready when they become 20 and selling pic related isn't a good career choice.
This is all the digital art, and not the modern art community.
inevitably the whole trade school meme is going to self implode because the reason trade schools were so cheap, and trade pay decent, is because nobody was going to them in the first place. Now that trade school is starting to become a popular option due to redditors constantly shilling it, the pay will decrease and the price of the schools will increase because of the increased supply of students.
To many people will cause a bubble to burst like the other sushi roll said, but we also can't forget what trade does to the body. Being a welder, constructor, or lineman sounds good till all that hard work- climbing, carrying, smog - catches up to you in your late 30's to early 40's. Do you know how fucked the economy and the children will be one they're stuck caring for for their parents at age 40? Also trade people are hit the hardest when the economy tanks if I recall correctly
Do art as a hobby instead, no one needs an art degree to do it