I actually really like this idea. If RMC were to focus solely on military related degree programs, such as war studies (Infantry, arty, armour, etc), engineering (engineers), and Business (logistics) as well as other degrees REQUIRED by the CF, it would be a lot easier to quantify. It would be a lot more bang for your buck if the young INF/Arty/Armour officer learned tactics, history of warfare, military administration and procedures (focussed english/french), their second language, etc, and entered the CF with the fundamentals of the officer profession, than used their real world training to develop the technical skills only the day to day can provide. Programs would be needed for MARS, pilots, etc, but that could be integrated into much the same stream, with some individual nuances.
That said, if this were to pass, I would be open to the option of granting CFRs significant credits towards their own degrees, or waving the requirement for a degree for them altogether... at that point, they have proven the leadership and techical/institutional ability, and a degree would simply be a piece of paper.
I would see DEO hired for specific trades based on their degree (Dental, med, business, etc) or a general degree for combat arms or other similar trades.
Finally, I do not believe that myself or my parents need to foot the bill for a young OCdt to get a degree that will help him once he leaves the CF. If they want to join, they can join. If they dont want to join because it wont get them into a good civie job, than they can pay for it themselves.