I'm 50, no apprenticeship. First job straight from high school in a small microsystems company for a couple of years then three years as test engineer in another small company and now in my 27th year at a larger company owned by a huge multinational company. Started as test engineer and migrated into current role.
Steve.
Ok, so effectively you didn't exactly start as an electronic/mechanical engineer but evolved into the job with, I suppose, plenty of training on the job (formal or informal), correct? Plenty of people like that and that's all great and in my line of work I met lots of people migrating from testing/QA/shopfloor into software/electronics/mechanical but if you were to start straight in your current role in any significant capacity would you be able to do that straight as a school leaver? Would you, with what you know now, hire a school leaver to do mechnical/electronic design over a graduate without taking them in a secondary role so they can learn a few things first?
Google won't hire you to write software without at least a basic computer science degree and Intel won't get you designing microchips without at least some specialist VLSI degree. Just like Merck and Glaxo won't let you in a lab to mix up the chemicals without such a degree and for things like that they never would even if you worked for them all your life.
Being self-taught is great and I admire people that do it, it can work in many fields and professions but like that other person saying that universities produce drones that can't think for themselves is just ridiculous. The modern world would be decades back without these people.
In the end, a university is, at least in theory and hopefully in practice if it is a good one, accelerated and targeted training plus a space to meet, network and work with relevant people. This provides an invaluable experience that in many cases just cannot be duplicated by, let's say, walking into a theatre and working your way up to managing it.
Anyway, that's all I had to say in this.

I value education, I value what a university degree offers (which is a lot more than just what you read in books) and I hope my children end up studying something in university even if they decide to do something completely different in the end.