Totally agree - ATPL theory in the last 20 years or so is just a memory test. It's not about how much you understand the subject, but more about learning the feedback parrot fashion. I'm sure type ratings have also been dumbed down over the years too.
This is an age-old debate that rears its head every year or so - my guess is, generally by those who don't have a degree, but want to claim the ATPL is somehow just as worthy. It's not!