It's an interesting idea and its success will depend on how it is implemented. Like anything, there are people who should be in college and others who shouldn't waste their time with it.
I went to college and do not regret my time there. I learned a lot and in some ways it has changed my life, not necessarily for better or for worse. But, it wasn't a huge game changer for me and on reflection, military service or trade school would likely have been a far better choice for me. However, my parents never gave me or allowed any exploration of those as options. All that was discussed was college.
Many people do not have the ability or the tools or the training to make an educated choice for themselves. They need help to make those choices. They need to be pushed in directions that they might not be able to see themselves.