You can say the same about degrees from Harvard or Yale.
Eh, there are still some majors there that are worthwhile. Finance, accounting, maths, hard sciences.
But I agree, it’s declining at all the former top tier schools.
Have some young engineers from Rice (a college in Houston) I am extremely impressed with. More business savvy than the two kids we have from MIT (and I’m an MIT guy). Israel has several colleges that haven’t turned woke robot machine factories, as well, but it’s hard to get them stateside, even for a top Israeli company. We’ve got a baby Silicon Valley going on and it sucks up our top talent.