> Whether that still has determinative value to a potential employer depends on the employer, I guess.

We put a lot of emphasis on job placement out of college.
What traits, majors, grades lead to a good placement.
That's interesting, but it's more interesting to look at what traits make or don't make grads successful 3 or 4 years after graduation which is a lot more important to ultimate success than the initial job placement.
Unless you're in the never-neverland of non-profit or government, the beauty of our system is that whether or not you are accomplishing something that benefits the employer becomes obvious, regardless of your alma mater, GPA or political correctness, or whatever.
You either get the job done or you don't.