To add to the confusion, every VC with a blog is writing about how CS education is irrelevant and that it's worth dropping out. But I doubt that the core tech behind Google or the erstwhile Sun could have been made if their founders hadn't learned proper computer science.
For example, Facebook didn't need computer scientists to start out, but it needed them to grow. For VCs looking to make a buck, the business idea comes first, and innovation in technology can follow if it needs to.
Math theory is a beautiful thing, but if no context is provided (this can be merely history, or a story of how it was applied, rather than actual applied homework itself) would go a long way with students. Otherwise you're just teaching people the notation and rote plugging and chugging of theory, rather than true understanding of the theory.
The vast majority of non-top tier CS programs just manufacture Eclipse\Visual Studio users for large companies without motivating students to keep discovering new skills. Focusing on a couple successful outliers isn't a representative sample.