I don't entirely disagree with you, there were certainly some later classes that were similarly not useful in the long run, but it wasn't a total crapshoot. My senior year included a year-long group project on a team of ~10 people that basically took us all the way through the lifecycle of a project -- from inception, to design and architecture, to polish and QA, to 'releasing' it. It was a very useful course that placed you into a startup-like atmosphere.

But I think this kind of confirms that apprenticeships may be far more useful to the programming field than college degrees. If my CS program did not include that senior course, I would probably pretty vehemently agree with you. And anecdotally, at my current workplace, one of our best programmers is a kid we hired basically right out of high school who has since grown in skill considerably thanks to the attention of more senior engineers.