History is our witness that when there is no yardstick to measure things, people free to do project their offering as the best -- even if it is the worst available. The same is true of education, hospital services, transport services, and any other type of public service. The same is true of theological education.
Thus some kind of yardstick, whether it is mandatory or not, always helps to improve quality. It helps people to know what is an "acceptable" minimum quality and what is above that -- and also how high above the acceptable standard is it. Thus drawing up minimum acceptable standards for theological seminaries has always helped both the parties in the long run: those who provide education and those who benefit from it.