"Do you think doctors, engineers, pharmacists, teachers etc used to all train on the job and older ones don't have a degree?"
State school teachers did not need a degree until the last 30 years or so. You could go to college for a teaching qualification that was not a degree. Private school teachers still don’t have to have a degree or teaching qualification.
Engineers certainly didn’t need a degree in the era of Isembard Kingdom Brunel! And even now, I think it depends a bit what you mean by ‘engineer’. Chartered engineers obviously do. Inventors, not necessarily.
Pharmacy, along with most medical jobs, has become an increasingly complex and demanding role over the last 100 years. It did not start out as an academic graduate role, though it is now.
And that’s the point. Universities have changed dramatically in the past 100 years, to encompass a much broader range of subjects, including many more that are directly vocational. They have also changed to encompass a much larger range of academic abilities. University education used to be rare and is now common.
I think the pendulum has swung too far and I am encouraged by several young people I know making different choices: paralegal apprenticeship, retail management, etc.