I think they should. Computer Science should have gone away a long time ago, but with lack of anything else relevant people are forced into it when they want to be software engineers, web developers, database administrators, etc.

I am highly biased though, I think education of this type should be something like 90% hands on 10% theory, as apposed to the opposite of what it is. I think its more important to have set up a website while working with several others using some sort of source control, and then load tested it with a million hits than to be able to write a formal proof on why some algorithm you can look up on wikipedia is NP complete. - if that person wanted to be a web developer