I can't speak to the humanities, but this estimation is just not true at most universities in the sciences. (EDIT: As cycomanic emphasizes below (https://news.ycombinator.com/item?id=48477683), the part of the original comment pertaining to graduate education is more reasonable. I am speaking here only of undergraduate education.)
> This starts to break down in college when the professors often at best only slightly ahead. (they have more knowledge and experience - but in a slightly different area and so it isn't relevant to the depth of whatever is under consideration) Grad school is about advancing the state of the art - if you don't know more than your professor you are doing it wrong.