It's a bit less forgiveable at a for-profit where there's (I assume?) no tenure, and those professors are fire-able.
I had a chemistry professor that refused to go easy on us because, "I might have to work with some of you one day." As teaching was his night job.
http://ope.ed.gov/accreditation/
It does need to be reformed a bit though for what you might call the 'low end' ... that is training programs finely tuned for specific skills.
I had a math professor freshman year that explicitly canceled a lecture due to him having a hangover. Honestly this seems like a relatively minor nit to pick, as there are far greater issues to be concerned with at all levels of higher education-- for profit or otherwise.
None of my professors for technology related classes ever did this, but they also had about 6 months of legitimate industry experience between them so caveat emptor with anybody who wants you to take out a loan to pay for their "education".
(Having said all of this, the slip of paper has still been worth more than it's weight in gold, for me.)
A few thousand dollars? Some things just don't weigh that much.
For the record, professors occasionally showing up hungover is by no means means confined to ITT. I went to a fairly good public university, and I had a few professors who came to an early-morning class obviously hungover once or twice (and 1 of them was a pretty good teacher). I'm quite sure the same thing sometimes happens at Ivy League schools as well.
one of them was obviously banging the female students for grades. like, really obvious, so obvious that my naive 19 year old self could tell what was going on.
one time one of my professors showed up stoned and showed us pictures of sea turtles for 90 minutes. i couldn't even make that up if i tried. luckily, he was a good teacher and it had something tangentially to do with the class.
yet another professor quit the department (or was he fired?) and started a test prep company ... for the tests he used to give. apparently they just use the same shit over and over, so hey, why not.
all of that is relatively harmless compared to the wing-nut profs that are clearly pushing a political agenda in their coursework and grading, and have absolutely no qualms about punishing you academically for having dissenting opinions.
i don't know, college is kind of a scam all around. there's a lot of fuckery afoot. it's adults doing adult things, it's not high school anymore. having been through it, i know to not to put too much faith into a 'good school' on the resume. i've heard some stories from my friends who went to ivy's and other elite private schools along these lines too. it's endemic.
i think i never liked school because all of this horseshit goes on in industry, except you get paid to deal with it instead of paying to have the privilege of being shit on by professors.
What I am trying to say is there is crap talent in every industry.
My teachers were awesome