In my opinion, you can still get a lot out of PE just by doing it even with little instruction. Being made to play basketball will almost certainly develop team-working skills, hand-eye coordination, fitness etc, with no involvement from the teacher.

But I agree that there is some lost potential in terms of building a strong knowledge base about fitness and well-being. The paper below suggests there are likely a lot of moderating factors in the benefits of PE.

https://sci-hub.tw/https://doi.org/10.1080/02671520701809817