doesn't matter whether you call it university or poly or vocational course, or whether the outcome is a degree or a diploma or a certificate - you train for what you want and hope you'll get a job. Sports psychology and media studies courses lead to jobs, and people taking them are hoping that the qualifications will put them ahead of other job candidates. Maybe they will, maybe they won't, but nobody knows how easily they'll get the job when they start the course.
If you only want to fill nationwide vacancies then you can have it state-directed, Soviet-fashion: right, we've got enough people in media, close down all media studies courses till further notice, but open up more plumbing courses... until the nation has enough plumbers, then switch to promoting medicine instead. If you want everyone earning the maximum, then everyone will become accountants like doc's daughter. (Like medicine, there never seem to be 'too many accountants' and gluts never seem to bring their wages down.)
Or maybe people just want to study French literature regardless of whether it'll lead to a job or not. Fine by me. My degree didn't lead me to a job, neither did jno jnr's. But we're both better for having earned them.