It's not bullshit. But at the same time, I wonder why so many people do these majors. They mostly end up working on a unrelated field. If they go to university just because they are passionate about learning the subject and are willing to pay for it, that's great! But I feel it's just that they are pressured to go to college, they are pressured to "follow their passions" even when it will not work out, and in fact some menial jobs require a degree nowadays.
We don't really need (economically speaking) lots of philosophy majors. And maybe that's okay if people are doing philosophy majors for the knowledge, but I don't think that's the case. And if they want a good job, I think we should discourage these majors.
That doesn't mean we don't need philosophy. It's really important. But it doesn't make much difference if the people who have a degree on that work on unrelated things.