A friend of mine predicted the same thing about 5 years ago, although I think that he didn’t name a time line and was thinking more like 20 years.
Clearly there is a squeeze hitting universities and colleges. The big name schools can get by because they will find someone who is willing to pay. Schools with huge endowments will get by because they can rely on their endowments if they run into hard times (although most high endowment schools are also highly ranked).
I am seeing an increasing number of very strong students attend in-state public universities. I am seeing many very strong graduates come out of in-state public universities. At least in my experience some employers are already noticing.
This might be an example of someone making a prediction which is intentionally exaggerated to get our attention, but which is very much in the right direction.