ClevelandDad
A while back we looked at the 2004 All Star teams. Who went to college and who did not. Slightly more players did not attend college than did attend. I think around 55% not attending.
Generally speaking the most talented players turn pro after high school. Plenty of kids turn pro after (some) college and have nice careers.
Alex Gordon, Nebraska 3B, was not drafted from HS. He just signed for something like $4,500,000 out of college as the 2nd overall pick. 20 of the first 30 picks this year were college players. They are not being paid $1,000,000+ each to fill rosters on short season teams. They are prospects for now.
There are exceptions, but I still think that the minor leagues develop players better than colleges.
That being said, major league baseball has shown a preference to allow right handed pitchers to (or not to) in college, weeding out the geneticly less sturdy with multiple 100 inning seasons plus summer and fall ball, with the survivors getting picked after two, three or four years. Zero dollars invested as the strongest have emerged.