Excellent observations, brewbuck!
I remember being surprised years ago when I read about how human beings were no longer mapping out the entire structures of central processing units anymore because these structures had become too complex for even a team of human engineers to fathom without computer assistance. As far as what the future may hold, even great minds like Ray Kurzweil and Bill Joy have taken note of Theodore Kaczynski's technological projections, which basically paint a very dark picture.
There is a small chance that those in the future who retain your type of knowledge may change things in a good way. However, I agree; the vast majority of the population would be at the mercy of the whims of those technologists. If they turn out to be as self-serving as the current financial elite, then the world is in for an ugly surprise.
As far as our educational system, and the current abilities of students who enrolled to gain a degree in computer science: where's the science in copy-and-pasting? Our students probably aren't as dumb as they are just plain lazy and spoiled by instant everything.