In a public university setting it's almost useless. Most people are there to stamp their adulthood card because they're expected to go to university. The schools offer arts programs to seem well rounded but really to get as much money from tuition as possible. Talk to a program director about funding if you want to say "Well, it costs the school money to run those programs." There's not really a system in place that can develop young artists. Visual art apprenticeships are still a (rare) thing. Writers, musicians, actors, you're all shit out of luck in regards to mentorship that could help you earn money and develop a career. I guess you could go back to the hyper selective academy system from 150 years ago or so, but a lot of talented people who would be overlooked in that system for actually being able to expand a medium. If what's going on now does one thing well it weeds out the people who aren't committed if you want to look at it that way.