Honestly dude, I don't think it's valuable even if you do put in the work. The majority of shit that is taught in your average university is not that valuable for running a business. And I think that time could be better spent on actually creating something, learning by doing, going out and networking, etc.
However, with that said I would not mind sitting in on some classes in princeton, harvard, yale, etc. If there's a legit professor who actually knows what he's talking about. And I think there's undoubtedly some real value in going to a top tier school like that -- the connections you get have are ridiculous.
I think though, for the most part, your average degree (from your average school) is basically worth nothing and to me is just a piece of paper that says "this person is somewhat competent". Not that everyone who gets a degree is a moron, but that's basically all I see it as.
I think that ultimately, your success in doing what you want to do is going to be up to you, your persistence/desire, hustle, etc. You definitely don't need college to get there.
Also just wanted to say that I truly don't believe in falling back on a college degree as a backup plan (to get a job? ugh) and feel like people who use it as such are probably not as committed to their goals as they should/could be.
But whatever, to each their own. Do what makes you happy.