Another externality - if not an intended effect - is that it selects for people who are willing to accept an abusive relationship with their employer.
Why do I call it abusive? "Study this stuff, that isn't actually related to your job, on your own time, for free, for months, and we might give you a job." Even if you do get a job, they still abused you.
Why do I call it abusive? "Study this stuff, that isn't actually related to your job, on your own time, for free, for months, and we might give you a job." Even if you do get a job, they still abused you.