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Modern highschool and university education today worldwide suffers from moving away from excellence selection to easy to achieve MA- and BA-degrees. Enwidening availability and levelling scientific degrees by changing from free studying to school like education led to lowering excellence and expertise to an alarming low level today.
The PhD is atleast a sign of having worked on a scientific theme independantly or some years.
Atleast if it not a copy and paste elaborate from other papers.
Because PhD is not part of the MA-/BA-system there is atleast some hope to preserve its level of excellence for the future. Further inflation of scientific degrees needs to be avoided or better turned back to excellence selection.