I reckon the whole University system needs to be torched, not just the funding model, but the way it’s used to import cheap labour and provide pathways for rich Chinese to get citizenship, whilst exacerbating the housing Ponzi and making rent unaffordable for young people.
The nonsense degrees is just a byproduct of wanting as many students through the door as possible and Unis having zero accountability for student outcomes beyond graduation.
It’s particularly acute in Victoria, “The Education State”.