IMO the dress and grooming standards are outdated. In my company, we have lots of beards, very long hair (men),
Blue colored hair (one of our Ph.D), haven't-washed-or-combed-for-a-year hair (one of our Ph.D - chief architect). There are more examples, but you get the gist.
IMO, the role of a university should be to prepare a student for life and a career. If no one in society cares what your grooming standards are, why should BYU? As long as it's modest (not exposing genitalia or overtly sexually suggestive), I'm in favor of dropping the dress and grooming rules.
Wanna wear a beard, or have long hair? Have at it. IDK.
Wanna wear shorts and sandals? IDK
Let the kids begin to make their own decisions.