Couldn't most degrees be distilled down to "Read this stack of books, memorize these sets of facts, and perform these written exercises"?
Anyway, I have an MBA. I enjoyed it a lot. I got a lot of benefit from classroom instruction and interacting with professors. And I got enough understanding of business that I was able to start my own business, which I ran for six years.
I live in a banking town, so there were a lot of folks there getting an MBA with a finance concentration. It seemed to be very beneficial for them, career-wise.
I work in IT. My university did not have an IT concentration at the time, but I do have a lot of thoughts on how IT management should/could have been integrated into my university's program in a way that would have boosted my career even faster. But staying relevant to the job market is a problem for all degree programs, not just MBA's.