You literally read books, one of the oldest technologies and write papers getting on. You have professors, but your tuition isn't really going to your professors. As a philosophy major I spent most of my time in buildings a hundred years old (had no projectors or computers) reading texts that were free from the library. I would have preferred that my tuition just paid for that building and my professors instead of the armies of administrative assistants and provosts.
There probably should be higher requirements. At my undergraduate the business degree was hard to get into. The english or philosophy degree just required you to tell someone.
I think knowledge for the sake of knowledge is a good on its own, but when you're paying that much, and everyone is all vying for limited academic positions, it doesn't make sense.
It just wouldn't be an issue if tuition for majors was actually closer to the cost of actually being taught.
Consider how politicized this would become. Also consider that demand for a major is a lagging indicator.