I have to disagree with you, you make it sound like showing that you've acquired real working skills that well benefit you in the working world are completely worthless, and the only thing which is of relevance is to somehow accomplish the impossible.
What I'm trying to show is that regurgitating information isn't very valuable. It trains people to become mediocre employees. From an employers perspective, it's a good way to train a subservient workforce which does what they're told and when they're told. In other words, be a good code monkey and run in this hamster wheel we've built for you for the next 30 years of your life. It's fine if all you want is a 9 to 5 job writing code, to go home to your family at the end of the day, and have BBQ on Sundays ... but I've never been satisfied with that kind of life...
What
is valuable is to be a hard working visionary. These are the people who create a vision and get a group together to make it happen. These people are the innovators, entreprenuers, leaders, world reknown scientists, builders, etc. who eventually change the world with their vision, people like Steve Jobs, Bill Gates, Issac Newton, Albert Einstein, Gordon Freeman, Sergey Brin and Larry Page, etc. Being a hard working visionary is a
habit which gets developed by pushing the envelope on what's been done. It's not an innate quality bestowed on birth or granted by pure luck. So, what better time and place to start forming that habit than at a university? Bill Gates once told a guy I know "If I lost all my billions today and started from scratch, I'd still end up a billionare." So, I say "Push yourself! Learn new things you haven't been taught in a classroom! Go above and beyond! Strive to change the world! Build something new!"
Not everyone who tries, succeeds, but everyone who succeeds has tried.