As someone who makes his sole income from my art, along with my wife, and does very well for himself, I can tell you, you are both wrong.
First and foremost, most art programs do not teach business skills and marketing. Art is a business, and as such, follows the same rules as any business. The fact that so many programs have very little, if any, business course requirements is a very big part of the reason so many art students fail at making a living from their art.
So, partly going to Slobo's point, if you want to study the fine arts, and be an artist, make sure you really vet the schools and go with that that has good art business courses.
Second, being a professional artist is a very very different lifestyle then the normal 9 to 5 job most people not only end up in but mentally desire. I have no set schedule nor a set location to work from nor do I have a consistent income. I am always reinventing myself, not to mention picking apart my work to the point where I am disappointed 99% of the time. My wife and I love it, and find it exhilarating. However, until you actually start living it, you just don't know if you can really deal with it, and most can't. I am not saying I am better then others, just I have no issues with this lifestyle, whereas an inconsistent schedule with out a set income is very daunting and fearful to most people. So many of my former assistants left the industry due to these inconsistency and the fear of not bringing home a weekly paycheck, and this is another reason so many with art degrees end up not being a pro. Not sure how you teach this to the point of someone truly understanding it, but it is certainly a big issue.
So, Slobo, an art degree can be very rewarding and pay very well, so long as you put in the effort to learn the business side of things, really vet the schools, which I think you advocate for. However, Andrew, studying fine arts and trying to make a career out of it should not be taken light heartily. You really need to think about the lifestyle and whether or not it is right for you. After doing this for 12 years and seeing so many consumed by the fear of inconsistencies, I would not frivolously recommend it to anyone with our a good deal of sole searching.