Comment by tptacek

I don't think it's useless so much as that it's not on the same tier of fundamental importance as structured programming, the memory hierarchy, concurrency, functional decomposition, recursion, trees, tables, and graphs.

And when you look at what the actual classes teach: it's usually patterns-y Java. GoF patterns are effectively obsolete. You might still need to grok them, but that's trade knowledge, not fundamental computer science. You don't come out of a CS degree knowing Hibernate or SAP, either, but people figure it out on the job.