You see no value to taking a music theory class with a platinum artist in your discussions on song structure? Or maybe the rock star wants to expand his horizons a bit and is also in your Ethics class discussing the effect of Napster on his ability to afford tuition. Or maybe he sits next to you in Econ and wants to use his experience in the music biz as the basis for your group project. etc, etc...
Forget the exam nerds, I'll take the real players every time. YMMV
The "real players" could also visit as guest lecturers on your music theory class, assuming they have good enough merits on the subject.
That said, you might be surprised at the number of people who even go to a school like MIT and end up in journalism or something else that isn't obviously related to what you associate the school with.