I suspect that Formaldehyde and Earthling may be arguing at crosspoints, to some degree- as far as I can tell, when Form referred to engineering/business majors as being "poorly educated", he meant a relatively narrow education, rather than a shallow one. The contrary, view, however, is that breadth of education does not equate to value of education, and that a narrower but deeper education is at least equal to a shallower but broader one of the same overall "volume".
Both sides make a fair point, but it strikes me that at least some of the argument stems from a clash of values, rather than a conflict of perception.
And I get to say this, because I sit in that architectural limbo between arts and engineering that allows me to pass comment on both with self-declared impunity.