[9dev]

Framing it as a transaction is part of the problem IMHO. We have a collective interest that the majority of the population gets the best education possible. Turning universities into credential stores leads to all the negative side effects we're dealing with - pay to play schemes, dubious credential mills, rich families bribing universities, and so on.

[mckn1ght]

You do still actually need the credential process though, in order to demonstrate that a person has in fact received that education.