[jjmarr]

It proves you could sit through 4 years of university and not fail out.

Since basically anyone can graduate high school nowadays, this proves you put at least some effort into your education without being forced to.

It doesn't really matter if it's low signal, just that it narrows the applicant pool.

[hackable_sand]

Mostly it proves you have money

University is not difficult. Money is

[FloorEgg]

University has never been more not difficult. Cheating is rampant and the whole institution is organized arpund prioritizing students graduating over protecting the integrity of credentials.