If we compare the education/career paths:
A) Go to medical school, become a doctor
B) Go to college, study engineering or business or whatnot, then work in a tech company or even start one yourself
C) Drop out and just start a company straight away
... then the same kind of people might be interested in B) and C), and for them, C) might be better than B). For doctors, there is no equivalent to C) (I don't think you can really be a "freelance doctor" without any degree). The path to 'Doctor' goes through A) only, the path to 'Tech Entrepreneur' goes through both B) and C) (The path to "Lawyer" isn't very branchy either).
Though if you mean, it may still be better for some people who were considering medical school to drop that and go do something else, then I don't disagree, I don't know enough about the advantages of various careers.
(I'm having trouble figuring out whether we are disagreeing, and if so, about what)
I don't think you can really be a "freelance doctor" without any degree
You can't, but basically I'm wondering whether Thiel means that as the only reason why "the time and cost of four years of college may be worth it", or if he also thinks that the educational value justifies it.
Peter Thiel is offering another round of "20 under 20" Fellowships. The application deadline is December 31st. We know many of the current Thiel fellows here in the Bay Area, and it's a great opportunity. Here's the official letter from the Thiel Foundation: