I'm not sure American universities are still issuing things similar to 1990s 4-year degrees. They issue documents claiming to be degrees, but the quality has dropped, and they aren't what they used to be.
Edit: initially i said “ People bemoaned the loss of chalk-on-blackboard skills when paper and pencil got cheap”, but apparently that’s not true, it was first claimed in a piece of satire, and then became mistaken for the truth.