I quite concur with your point 4: I too had to do a selection of pointless modules aimed at improving employability, which failed so to do.
But as @Jon Massey also said above, I'm not convinced we do need millions of computer scientists. Some, yes. Many software engineers and a whole panoply of "IT types" in various guises, very few of which actually need to be computer scientists.
Of course technologies go out of date rapidly, however, I would suggest that a *good* course would teach skills that can be applied regardless of the technology employed.