TAFE certainly isnt for the dumb, and does many different things to university - I did a screen course there, extremely hands on, taught by people who have worked extensively in the industry instead of being taught by uni lecturers - who are only there teaching because it means that they can get research money for whatever they are working on at the time.
Guaranteed, TAFE teachers will actually care about their students, and will not see them as something getting in the way of their research, as many university lecturers are. And after just one year of study, and $1000 for the qualification I did (instead of the $10,000 for a similar university degree) several of my classmates are working to higher and higher positions in jobs at TV stations, one is being trained to be a producer within the year, and another is a work from home editor who gets several jobs a year, getting several grand per job.
TAFE is also more about the skills instead of the qualification as well... you'll get into the industry quicker, and a few years experience will beat a uni degree in most industries