As someone who has a great deal of respect for academia, my opinions on the administrations of many average and top universities has declined significantly. In the last month or so.

Sadly, probably not in practical terms.

Even if someone is angered by their actions, the employers are unlikely to hold it against those holding degrees, it isn't their fault.

Meanwhile the jobs that only would accept Harvard or similar ivy League won't care about why they didn't actually get the degree, they just see that a degree was not from their precious "Harvard". This may be a hard requirement or just a massive advantage branding wise for your university.

If this weren't the case, Harvard couldn't charge so much to attend, no one would pay.

So maybe if withholding the degree came with a big refund for all the money spent for the diploma they refuse to give, but as it stands....

I'd rather doubt it. They worked really hard to get into and graduate from Harvard, there's a reason they got into that school. There's a reason they got a degree there. It was probably their dream. It was an accomplishment they could be proud of, and one they knew that would help further their dreams in the future. To suggest they could just get one anywhere else is dickish.