It really has nothing to do with studying "bullshit degrees", as so many of the graduates with "bullshit degrees" are incredibly competent and hard working, and would make better employees than the arbitrary person with "5 years experience", who may have 5 years experience being a terrible employee.
Counseling students of the trends of the market is stupid. You would get a ton of students with whatever degree was popular 2 years ago. You can't just switch your degree on the whims of the job market, and why would we want our college educated force to do so? There would be a stupid and obvious consequence: hordes of graduates all with the same single degree all still complaining about how college doesn't lead to a job.
Really the problem is that there just aren't enough jobs for college grads, and the jobs that are available, employers naively put bars of experience, completely ignoring a mass of very competent workers.
One thing I might be in support of is more of a compromise: cut out more of the atrociously poor general education in exchange for a policy of something like 1 career degree (Business, Science, Engineering), 1 arts degree (Everyone must double major). But this would likely have the drawback of students having to grind through a subject they're not interested in and are never going to apply in practice.
P.S. (I'm a few years out of college and have been employed the entire time, so this is not my personal anger at the job market, but more an observation of systemically poor hiring practices).