Dependant on the degree and area of business it is worthless well before that
With the rate that computers change these days it can be very quick depending on the degree.
My course is
not CS, just Computing, which means that I don't cover the bottom level stuff like machine code etc. but create programs via bashing out a set language. I also do websites, networking, databases and about computer systems. Well that was first year, this year I get to do more programming, more in depth this time, as well as games development, AI and some other things.
Basically my first two years cover the general basics of computing, which means the degree isn't worthless.
The third year is a placement year, and I hope to get one in a decent position in the IT industry.
The final year is then focusing on the set area you want, be it, AI, Databases, Programming etc.
That's the part of the degree that if not chosen well could well be lost with months/years due to changes in technology.
As yet I don't know which sector I will aim for for the final year as I haven't covered all the topics we are able to do, so don't know which is my favourite or best to choose.
The whole course will not be meaningless in years to come, but my chosen area may well be if I don't pick well for my interests and the way the IT industry appears to be heading at the time.
InvG