I'm a second year philosophy student. I'm primarily doing it out of personal interest and growth, as opposed to some clear-sighted future job plan. I've never understood the work now to work tomorrow ethos, as all you're ever doing is working to an end, which is itself working to an end. I'm doing it because i want to do it; simple as.
Having said that, just because a degree isn't specialised and tailored towards a specific job, such as engineering, or nursing, doesn't mean it's useless in getting you a job. Many degrees are simply broader, and operate more generally. For example, philosophy is considered a respectable degree if you want to get into computing, politics, any literary vocation, or vocation that requires high logical understanding. It even counts as an art (Ba), and serves well in that respect. I think it is true that degrees are diluted by who they let in, but i think a lot of people who get in easily, drop out easily, or don't mark well. Doing well at university is still a challenge, and getting that first makes all the difference.
I'm hoping (If i can boot my complacency and procrastination out the door), to go on to a masters, and some day a doctorate. I want to write games reviews, possibly teach a-levels/seminars, bum around in a desk job for a while, maybe even get a research grant eventually. Who knows? all i know is what i'm doing now is fantastic, and it opens doors for me.
Like WTF, i think i can charm my way through most of life...