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MBA culture introduced us to the meme of "management is a generic function" meaning accountants with an MBA degree could manage engineers, software developers, doctors or teachers using the same tools (e.g. performance metrics).

Yeah the degree never tries to cover the specifics of every industry and job. It doesn't even specialize in people management (MIM is that degree). MBA tries to help build the mindset to begin your learning off of (assuming you have an openness to learn). CS is similar (CS graduates are not advanced programmers). Of course it's nothing special, you could self teach that like most degrees.

I don't agree - the current meme is that people who have MBAs wave them in the air as proof that their decisions are infallible... There are a lot of smart people with MBAs out there, but their intelligence and experience isn't solely owed to acquiring an MBA.

MBA teaches bad management.

MBA is a set of methodologies that are hilariously unfit for purpose unless your business is about making widgets in large volume.