That’s an unnecessarily reductionist take. The value is obviously having demonstrated that you’ve completed the studies required.
The degree is simply the formal proof. If a degree is revoked, that’s a secondary signal that the studies were marked as completed at one time but something later happened that was so egregious that the university felt the need to rescind any endorsements.
Discovery of rampant cheating to achieve graduation would do it. Taking over a campus building and vandalizing it seems like a reasonable thing to cause the university to want to rescind their endorsement of you.
The degree is simply the formal proof. If a degree is revoked, that’s a secondary signal that the studies were marked as completed at one time but something later happened that was so egregious that the university felt the need to rescind any endorsements.
Discovery of rampant cheating to achieve graduation would do it. Taking over a campus building and vandalizing it seems like a reasonable thing to cause the university to want to rescind their endorsement of you.