I don't understand how this topic can be discussed at all without foregrounding the question of what higher education is for, in terms of how it is used and wha

I don't understand how this topic can be discussed at all without foregrounding the question of what higher education is for, in terms of how it is used and what are the social consequences of having a degree. Some amount of that is learning the material, some amount is socialization, some amount is proving that you could go through a certain process to a certain standard. Going no-grade will have uneven effects on these outcomes, particularly the first and last. Without being explicit about what's going on, arguing about whether any particular change is good or bad is kind of pointless.