The Most Disrespected Document in Higher Education

There was an earlier discussion today about an NYT article that made a flailing attempt to pretend university is still relevant. https://news.ycombinator.com/item?id=37210942 I commented that it's lost relevant because it's been given over completely to administrators. This article is a great supporting data point. Why would an employer (other than one focused only on process and conformity like a government) care if a prospective employee had gone through this BS. And how otherwise does it prepare people to be members of learned society?