The conclusions are unfortunately correct, it is the student who is being made to pay for this policy. Bad course modules and bad degrees de-value the whole system and do NOT help those who scrape through but who are then unable to follow the level of skill required through to the workplace.
As an employer who has interviewed and employed countless computer degree candidates, this has simply devalued the word 'degree' to a point where it may no longer get you even to the interview ahead of say a non-degree candidate with a tangible track record of real project work or experience behind them.
This is not just a British phenomenon.