The problem is that many “legit” colleges are already degree mills, albeit at a slower pace. In the US at least, colleges are run like businesses. More students means more money. As long as they can maintain an okay reputation, they’ll churn as many students through as they can. The places that let you fast-track like this are just taking the next logical step, and letting the mask slip a little further. The whole system is broken; this is just another symptom.
Not every institution is this way. In my area, there are one or two schools that consistently produce people who actually know something. But it’s a pretty small percentage, all things considered, and I expect the overton window will gradually lessen expectations at those places over time as well.
You did an intesive for fluid mechanics?! Are you insane, or a masochist?