There is a lot of study on the idea that the main value of education is not what you actually learn but much more signal that you are dedicated, motivated and have the ability to learn.

There is a huge argument going on right now about how much of the value is signal vs actual knowledge you need for the job. There is a lot of evidence that suggest that signal is a huge part of the value.

Network does not really apply as a expiation because the effect appears even when transition to a place that you have no relationship with it.

If you are interested consider listening to this: https://www.youtube.com/watch?v=bpk_u_VmPD4

(Be aware, this is a strong version of the argument, deliberately picked to break with the tradition view that many people have)

As I said, their companies value diverse academic backgrounds. Not no academic background.

Let's look at some real jobs, outside the technology industry.

The UK civil service: "you need, or expect to have, a 2:2 degree in any subject or higher".

UK NHS project management role just requires "a degree" (the NHS is one of the biggest employers in the world).

Goldman Sachs graduate analyst "open to final year undergraduate and graduate level students from any field of study".

That's the reality. They don't care what degree, they just care about a degree. So if you're passionate about art history, get a degree in it. Almost nobody cares.

You would think that, and it would logically seem to work that way. But in practice, it often doesn't.

A lot of employers are lazy, and use "has a degree" as a filter to cut down their applicants. And since there are so many applicants in nearly every field, it doesn't hurt the employer much. The biggest value in many degrees is literally just the ability to truthfully claim "I hold a degree", regardless of the field.

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To improve that, we'd need to get employers to drop fake requirements from their job listings. But since there's (typically) only benefits to them for inflating their requirements, I don't think it's likely employers will willingly drop that requirement.