To be fair though, my nephew is going through a CS program at a university and has asked me about some of his assignments. They're similarly trivial and the example code provided by the professors is atrocious. I like to think they're doing that intentionally, but I know they're not. I was disillusioned with the business programming course I enrolled in right out of high school back in the '80's and ended up finding a small state school with instructors who had real world experience for the rest of my formal education. Even with that, I've learned far more on my own and through work experience than I was ever going to pick up in a university. If a person isn't motivated to learn on his own, he's never going to be a particularly good programmer. Perhaps the for-profit schools just attract a higher concentration of people who are only trying to get into CS for the money and don't have the love of the art that you need to get to that level.
When I'm in charge of hiring, a degree doesn't really factor into my decision. I can tell if you're the sort of person who enjoys programming. I'd take a high school dropout over someone with a Master's, if the high school dropout had a substantial portfolio of open source code he could show me. Assuming the guy with the Master's didn't, naturally. If they both did, I'd want to hire them both, and I'd make a damn good argument to management about it.