I have just read the article. There is clearly an issue of some subjects not being sufficiently vocational. In order to be awarded a degree for fulfilling the requirements of a course, the work submitted has to meet certain minimum requirements.
In many subjects, the course will be designed to meet those academic requirements and as a consequence of that the time given to vocational skills will be reduced.
The obvious solution to that is that some subjects shouldn't be taught as undergraduate degrees. They should be taught as vocational courses in Higher education institutions and be awarded a vocational qualification.
The second issue is that media studies is deemed to be academic on the basis that it covers psychology, sociology, cultural studies and economics. That seems to me a bit jack of all trades. It leads to people overestimating their knowledge base. This to me is pretty much what defines something as a mickey mouse degree.
The third issue is the comparison to English and the fact that people who study English generally don't get jobs in the field of literary criticism. My answer to that would be that people don't go to university believing that they will get such a job; many people go to university believing that a media studies degree will get them a job in the media.
The reason that a media studies degree doesn't seem to fit very well with a degree in journalism is because good journalists require a firm knowledge base. If you want to train someone in political journalism, someone with a politics or economics degree is a better option. If you want someone to write about world events, you might look for a Geography or History graduate.
There is quite a lot of news that is generated as a consequence of reporting events that have been created by other media sectors, but probably not enough to justify hiring a lot of media studies graduates.