I don't really like their approach of not funding humanities in the same way as tech and science. I think humanities degrees are really important - at least good ones.
On the other hand, the idea that somehow 50% of the population should have a university education was never a good one and it has been really bad for universities. We haven't ended up with many people who are really well educated, but instead many humanities degrees have become shallow and fairly worthless.
STEM degrees have in some cases been watered down too, so they are essentially technical education. As such, however, they are useful.
So I would agree that something needs to be done in education, in universities, in vocational education, and in terms of making sure students graduating before they gone on to any of them are actually educated - the fact is that students who used to come out at 15 to go to work or an apprenticeship often had a better general education than many graduating from secondary school now.
I'm not sure what to make of the Guardian article. I don't trust their reporting at a basic level, and that makes it a bit of a non-starter.