As to what you learn, if done properly, a liberal arts degree should make you able to quickly digest and anlyse large amounts of information, to reinterpret it in ways to make it intelligible in some narrative form, and to see more points of view on a matter than readily apparent to everyone.
If done properly, any degree should teach someone to think for himself, and be able to teach himself. That's certainly the case here. We don't have equivalents of the liberal arts degree, however, in which people can learn almost nothing about almost everything. We call that GCSE.I suppose one of the intangible, yet good things about a liberal arts degree is that it teaches people to teach themselves. It's a bit like the "give a man a fish/teach a man to fish" philosophy to some extent I suppose.
Liberal arts degrees sound fun and interesting, and I'm not deriding the personal satisfaction to be got out of them, but they certainly don't seem to confer any advantage to a career that any other degree (done properly) wouldn't.
This is more of a problem over here. A degree in English is better than a degree in media studies, even if applying for jobs in the media.I don't dislike most Arts degrees. Most of them are worth doing.
What I dislike is non-degrees -- airy fairy degrees with waffly titles, or "specialist" degrees, like "agricultural engineering" or "sports science". There's no point in them even existing.