I somewhat agree about it being a chance for students to take education for them, but there is also the issue of an institution offering a limited view on a subject like computer science. For example some time ago I estimate that mainstream OOP was taught everywhere, while there was almost no place teaching FP (This is changing slowly now). Even if you took every opportunity you had, you might not have even a teacher or lecturer, who is familiar with it. You could only learn on your own, which you would not need that institution for. Teaching quality is not the same in all places. Teachers and lecturers are not the same everywhere.

Indeed not all schools, and not all subjects, are created equally. And your education is not limited to the specific subjects, or competencies of the school you happen to be at.