The students we get in these programs cannot be pegged into one box. On one end, there are the new money brats, who will likely be gladhanded through the system all the way to the end of their BA degrees. Entire offices filled with Americans and Chinese alike work through the week to engineer the perfect applications, often using teachers' names without consent for recommendations, and inventing profiles on the fly to ensure their applications get through at some of the highest schools in the country. On the other hand, and definitely not to be downplayed, are the honest, hard-working, legitimately genius-level students who are entrenched in many decades of intellectual tradition, and simply wish to acquire the degree.
Once back in China, these degrees (if at a same-tier school) are generally more respected due to the adaptability they demonstrate. So a degree at BeiDa (Beijing U) versus a degree at MIT would lose when applying for job in Shanghai. Out of the students I've taught, I would say that during my honest moments with them, about half of them intended to take advantage of the emigration opportunity their study abroad presented, despite the fact that it would be likely that they would lose their citizenship. The stereotypes have some truth, and many Chinese view North America as the holy land of civilization. Whether this is by choice or by influence is unanswerable, but I can tell you from experience that the number of Anglos in the street advertising in the high-end shopping districts is almost always over-represented, and Chinese brands among the locals are practically the stigma of the lower class. In my experience, this attitude is completely undeserved. The things I have used and purchased here, from everyday items up to cars and motorcycles, are usually of quality far beyond what I had paid for them.
If you look at the visa requirements, you can see how this is not going to stop any time soon, and this is one point that cannot be ignored: merely to enter the country, you need to demonstrate the balance of about 4 years tuition, existing as readily available currency. That's right - you need to show a balance of about 100K before even setting foot in the US or Canada, or you simply cannot play. This is music to the ears of our governments if you think about it. Here is a 4 year tourist who will take nothing from you, guaranteed to spend their money supporting real estate, education, and anything else that might be in the city, at no cost to you whatsoever.
So the appeal, and the topic of discussion here, should not be restricted to the domain of the Universities and their affiliates. This goes a little deeper, in fact: to the countries themselves.