The purpose of education should not be the attainment of credentials, but rather the attainment of the ability to "do a leetcode interview". Institutions being

The purpose of education should not be the attainment of credentials, but rather the attainment of the ability to "do a leetcode interview". Institutions being given license to grant credentials is a more or less completely separable problem from this. No university has any incentive to say no to someone who wants to pay 200k to have you grade some homework for a couple of years, as long as they aren't at capacity, and moreover very small incentives to fail them. The irrelevance of the paper as a signal is the solution to this problem.