The case could be made that universities teaching Java are already catering too much to industry. For my part, I would vastly prefer working with a lisp, ML or other esoteric language while in school. There's no shortage of time afterwards to work with more pragmatic languages & frameworks.

edit : not meant to imply that Lisp or Ocaml are not "pragmatic", just that the likelihood of working with them as a professional developer are substantially lower than Java / C# or Ruby / Python.