Genuine question, how else would it not? Ofcourse, I don;t believe people with Masters in Computer Science or an MBA to have more knowledge than the average Joe.
But people who read stuff like history, science are the ones with the most knowledge in this world. Don't tell me that the free thinkers from r/conspiracy have the most knowledge. Lol.
I would like to give my own input on these points, if I may.
In my (European) experience, frequenting university and graduating are not signs that one is intelligent, nor that knowledge is acquired. I can really only talk about my field, mathematics, and look at the undergraduate years, so keep that in mind, I'm still a 2nd year undergrad. However, in my year there are maybe 2 people out of 60 that I would say have a passion for mathematics and work towards attaining knowledge (3 if you count me in but I deem internal judgments less valid than external ones, so let's keep it at 2); everyone else is only there for "networking" with their "peers" and are all brainrotted zoomers (I'm a zoomer too, but at least not brainrotted). The two people that I mentioned earlier exhibit the usual markers of autism, though they don't seem dysfunctional, more so they perform social masking and light jestermaxxing to fit in with the crowd.
The difference between those 2 and the others isn't just a faster learning curve, but the ability to find connections between areas of mathematics by themselves, study ahead, be creative in order to resolve problems. Everyone else is just there, memorizing things, not really caring, and 5-7 days after the exam they don't remember much, if anything.
That's also in great part the fault of standardized testing (in my uni most exams have a written and an oral part, with the written part being the usual problem-solving stuff that students can find online and practice for hours upon hours, and the oral being not too different with just the theoretical side of things). It's not really incentivized to do meta-thinking about mathematics, or learn to spot the similarities between objects in different areas etc. I could be much more precise but I don't want to be tedious with jargon.
Either way, once outside, the job market does not require you to know much theory, and you're mostly going to learn stuff within a business. Any potential knowledge about logic (not even studied in undergrad btw jfl), meta-thinking, etc. is not developed nor, as a consequence, retained. It's mostly a self-referential world, which is great if you're like me and want to join it in order to do what you like, get paid well, and not having to interact with normies, but it's designed to not promote deeper understanding and complexity because, fundamentally, universities gatekeep such abilities for masters/PhD students.
At least that is what I can observe myself.
Also, while I don't debate that stupid people that think they're smart are actually smart, I don't think that, in general, those who read history or science tend to be smarter than others; history is to be interpreted, and science lends itself well to a memorization type of learning.
Tbh I am not even sure what I consider knowledge so there's that I guess, but functionally I will adopt your definition.