The fact that every job on the planet requires a bachelors degree now has done a real dis-service to the entire education system. It spawned a whole host of new institutions that only want to pump out degrees that cross the absolute minimum threshold for accreditation.

The consequence of these diploma mills are that they are now competitors to normal universities and have caused other universities to dilute their requirements and courses in order to compete against the diploma mills. In the end, we have regressed to the lowest common denominator, making the Bachelor Degree barely more respected than a high school diploma.