No... This is not Dr. Rawnsley. Hello though.
I think the fathers point was that his son would be better prepared for life and running a large business with a college education rather than signing a baseball contract out of high school.
His son indirectly was/is going to be a millionaire (multi) with or without baseball.
In his mind and in his son's situation, the college education would prepare his son for the one certainty. Point is, the money was no issue in this case!
I understand this is a unique situation. That is the point... there are many reasons why people might not come up with the same decision in the same situation.
I don't disagree with your points. I just don't think they apply in every single case.