But when it comes down to street smarts or business smarts, they don't cut it. I've also met people who performed poorly in high school, mediocre in college, and excelled in medical school eventually becoming surgeons.

The only reason BYU is hard to get into is that the demand is high due to the increase in LDS membership. If it was for academics, you'd see an increase in non-member applications which there is not. An increase in admissions is not going to water down your or my BYU degree. The only one that ruins your degree is yourself.