What sort of degree do they come out with? Classical Studies? Twelfth Century Tibetan Poetry? Ah, a degree in interpreting Cicero.
Thomas Jefferson and John Adams loved to read the Greek and Latin authors in the original languages. John Adams encouraged his son John Quincy Adams to read Thucydides in the original Greek, "the most perfect of all human languages."
The officials who ran the British Empire in the 19th century generally had studied Classics at Oxford or Cambridge and did a pretty good job of running the colonies.
There are probably a lot of frivolous majors at Swarthmore but I wouldn't include Classics among them. Of course a student could major in Classics elsewhere for one-tenth of the cost of Swarthmore.