There are some things that does make everyone more successful. More education is overall better for society, even if it's no longer a guarantee of "success." Some things don't really get diluted but can enrich the lives of anyone they are involved in (if we disassociate the word "success" from a comparative cycle). For example, healthcare, books, digital entertainment, internet connectivity. The comparative advantage goes down, but the impact to the individual does not.
I think we are witnessing first hand why more education is not always overall better. There isn't much point in having everyone learn British Literature on a 30 year payment plan.
It's important to distinguish between education and the business of education.
I don't think I believe more education can ever be a bad thing. But the business of education in the US is an absolute nightmare that corrupts the spirit of learning it ought to protect, and I agree more of that business will not make things better for students.
Perhaps we need erudition or an education that is not as formalised and compartmentalized as it seems to be. I happen there is something to be gained from literature for example. But a degree is not necessary for that purpose. The degree ends up being used for signalling or to provide some structure to 3 to 4 years between high school and full-time employment.
