Yeah, could be, some problems I see with this implementation:

1. the wait time is too long for the company to fill a position, it is difficult to predict what happens in the next 4 years

2. difficult to match the students with companies. For example, you are interested in CS, but company wants specifically React developer (assuming there was no AI and there was still demand), would the student change all their courses based on the requirements and live like a robot who is forced to take courses they are not much interested in. Now imagine when gap is higher between topics (CS vs React is closer, compared to MBA vs procurement, both are somewhat subset of same topic)