When I got my BFA, there were about 15 other people in my graduating "stream". (~85 in my graduating class, but only 14 others in the technology/design program.)
Do you know who got jobs afterwards?
It wasn't the people who had the most prestigious assignments during the BFA program.
It wasn't the people who had the best social networks and got on best with the professors.
It certainly wasn't the people who got the best grades.
It was the people who worked. The people who got themselves on payroll at the university theatres, who worked downtown during their BFA, who apprenticed at summerstock, who got involved with fringe shows, who volunteered with the university amateur dramatics society.
Yes, yes, okay, great: you did a mainstage show and a studio show each year of your BFA program. You and everyone else. What else can you offer? What else did you do? What else is on your CV? (In fact, given the choice between someone who only has a mainstage/studio-per-year BFA, and someone who doesn't have a BFA but can show me that they've worked 8-10 projects per year in a variety of environments, even if those 8-10 are orders of magnitude less prestigious [fringe, storefront, community, amdram, instructional theatre, etc.], many jobs would still go to the latter person.)
The kids who got amazing grades and great assignments but only worked on class-assignment shows fried. They become the waiters and baristas and washup drama teachers. (Not that "drama teacher" is a washup profession, but when you graduate, spend 4-5 years trying to find work, and go back to university to become a drama teacher [because what else can you do with a BFA?], you're a washup.)
Conversely, the kids who only got mediocre grades and relatively unimportant assignments, but worked their tails off to get their fingerprints on as many projects as possible (at the university and elsewhere) are the ones who succeeded.