I don't think that computer science degrees are dead, but I do think they are "sick" (to extend the metaphor).  I think most people entering college today are sensitive to their employment opportunities after college.  A few years ago there was a huge rush to outsource IT to off-shore sites/countries.  If I were an American college freshman today, it would seriously not consider getting a degree in CS, because I would be very concerned that there wouldn't be a job for me when I graduated.