The only point of a modern day university is that they are (a) exclusive, and (b) "guarantee" that students "know" what they are "taught". That's at least what people who hire think. I remember someone saying "It wouldn't matter if MIT only taught basket weaving as long as they still had such a thorough selection process". This holds true here. People only care about the pedigree of your degree, it's substance comes…
"guarantee" that students "know" what they are "taught" That used to be the case, but now corporations require you to pass their own exam before they hire you. Let that sink in a moment. No longer are the universities taken at their word about their product. For some of you it has never been any different, but this change came about more or less when I was teaching at university/college. Some of us saw this as a quit…
There is far more to a degree than the classes and the piece of paper with a GPA. It is also an environment where young people grow as themselves for the first time in their lives in many ways. There is also more that can be done to ensure strong job placement, like my alma mater, RIT, in requiring a full year of paid co-ops before they grant a degree.
On hiring:
There are infinite metrics that assign value to a candidate regardless of the school they attended; culture fit, for instance.
However, hiring is an expensive and labor-intensive process, and every moment an engineer is looking over resumes or conducting interviews is time that could be spent fixing bugs or creating valuable features. Pedigree, for better or worse, simplifies the decision. When you have a stack of resumes to deal with, half from small colleges you've never heard of, and the other half from, say, Cornell, whom do you prioritize?