I agree and think so too. I went to mine back in the day when they were modest (in the UK) and a simpler time. Go up and get your diploma in a glorified assembly Hall basically, but I was at a mid-university for the time and only went at all because even though my parents went to college, most of our family and community hadn't and it was more of an event for them.

In some ways I'd think that the bigger audience of rich kids might encourage students being less precious about it though. But then the US and wealthy kids were / are pretty alien to me no matter how many I've met and known in adulthoid since.