If someone can't code their way out of a paper bag after a CS degree, then that University should lose funding. This is precisely why FAFSA is problematic: it encourages Universities to lower standards so far that the people arguing *for* college admit some people complete a degree and learned nothing.
Your image of a Renaissance man who can do it all being forged in the alma mater is just a bit much. CPAs, engineers, actuaries, data scientists, nurses, etc, are not produced by the learned intellectual doing some light reading at the library. If a business shells out a lot of money for a position, it's because there aren't a lot of people who can do it relative to the need for such positions. This is just a basic economic fact. And while I agree that someone eager to learn is better off in the long term - and even that college cultivates this - the core fact is your major had better give you a skill within the professional middle class if you want a good job. Transferrable skills will get you ahead in that career, but getting into it is what a major should be for.