Given your cynical take, it’s in the school interest to prevent cheating; if everyone cheats and the word gets around, nobody will take that school seriously anymore.
I'm not sure how it is for other industries, but for computer sciences nobody takes schools seriously anymore.
Your knowledge and skill level is the most important thing they will evaluate you for, for the three SW jobs that I've gotten nobody asked me for my college degree let alone my grades, including a FAANG-type company.
