I would only agree with this if the parent isn’t footing the college tuition/expenses bills.
Otherwise, giving students carte blanche to goof off or otherwise turn in lackluster academic performance without any accountability for 4 years is the exact opposite of “treating them like an adult”. Quite the opposite, in fact.
Don’t know of any scholarship committee which would give such a large amount of leeway should a student’s grades fall below minimum set expectations. In fact, most would cut off scholarships if the student’s grades fell below those expectations with the student needing to make a compelling case if they wanted to appeal being cut off.
Likewise, if I’m allocated a budget to accomplish an objective set by most employers I’ve had and I end up going over budget or worse, blowing it completely on things having little/nothing to do with that objective, having the allocated budget/future funding cut off would be the least of my problems.
Heck, in a few cases, I could have also faced serious felony criminal charges which could include substantial fines and jail time due to prevailing laws/regulations governing the industries of the companies I worked for.
Unless one is fully funding his/her own college him/herself, students or people in the adult world are usually accountable to whomever is funding their activities. This encompasses students and parents/scholarship committees/FA administrators, employees and their employers, or businesses/professionals and clients/customers.