Education does not operate in a vacuum. Many students are incentivized by the social accreditation of completing a program. Institutions need some way to qualify that teaching is actually being done. Whether it be an examination, a certification, or bringing a project to completion.
“A shared fiction in the world to help frame interactions between people”. You sir are a natural philosopher.
I think what’s universally important is to keep active and engaged in what we’re doing. Some of us have to tell fictions that what we’re doing has meaning, whilst others just know what brings meaning to their life.