Whatever you say DaisyAnne it doesn't make a degree in knitwear design intellectually equivalent to a degree in physics. Now or then.
Your arguments are completely false. Why is it relevant if physics degrees are different now than they were in my day? I'm using physics because that's what I know about. But I dare say philosophy degrees, or maths, or economics, are pretty rigorous too and require rather more intellectual thought than knitwear design.
I'm wondering what to say about the "knowledge isn't static" comment. However much physics has changed in the last 40 years it hasn't grown closer to knitwear design.
Some subjects are academic, some aren't. We've decided to pick on knitwear design, and golf, and surfing. All those things are perfectly valid subjects of study, and lead to good job opportunities and people need to know about them. But they are not academic. We need to acknowledge the difference. That doesn't make us snobs, it makes us realistic.
People studying physics today spend quite a lot of time on "electricity"; they haven't moved on to coding instead. Coding is very creative. It's good that children learn it. Coding is a tool to exist in the modern world. But "Electricity" has moved on a bit from your dad's day. Once you're past the basics of electrostatics and Ohms law, there's circuit analysis, electricity generation, etc. Don't tell me I don't know about studying "electricity". That would be incorrect.