It doesn't even really matter if the job is even completed or if the program is ever used. The important part is the doing, not the result.
I confess we did similar things at uni 30 years ago, although we mostly re-implemented arcade games, not sql databases. Databases are likely more useful to understand.
All programmers have to go through 3 stages;
A) I program to prove to myself I can
B) I program to prove to others I can
C) I know I can write this, you know I can write this, but its cheaper and easier to use this existing, available, code to do the job.
I like c) programmers in business because they understand that the goal of the business is making money not generating code. A guy who -could- write SQLite, but then understands why -using- SQLite would be better, is enormously valuable.
(Not to mention his SQL chops are probably pretty good by then)