You do realise that university degrees will require you to write essays? Every single degree (with the exception of perhaps medicine - I'm not sure about that one)...
Even Medicine does. Been through like 2 long essays this year already (3000 words or so).
Anywho, I think people are overlooking the whole point of mainstream VCE English. Already this year, the skills I learnt in Language Analysis came useful when I had to do an assignment on how medical stories and 'facts' are skewed in the media. This also has implications on pharmaceutical advertising to doctors and so on, so it will have some use at least in my own career. Also, such skills are going to be useful for you guys when you begin taking control of your own lives and have to make lots of decisions. Such decisions are going to be skewed by the inevitable torrent of crap coming out from the media and advertising, and it is really up to such skills to filter through said crap.
Context on the other hand, depending on how you approach it, at least helped me to develop the skills I needed for academic writing since I focused predominately on expository, and hence allowed me to develop a style which could explain things clearly. I've also found that in general life, the way I explain things is clearer and more succinct now in things such as tutoring and teaching things to friends at uni etc. While I can't attribute this solely to just VCE, it definitely had an effect.
Next, what I believe most people are overlooking is that English is not just a subject about writing! What my first tutor said and what has stuck in my approach to this subject is that it is actually one of the few 'thinking' subjects in VCE. Yep, it does involve a lot of thought. Compared to the many rote learning subjects such as business management, the difficulty of the thinking required in English is actually much harder. Hell, I found the thinking in English actually more difficult than most sections of subjects such as even Specialist Maths because of the distinction that in Maths, everything has already been done for you. The formulae, step-by-step methods, shortcuts, theory and so on are all set out for you in a textbook, and whether you take the 'correct' way and understand the concepts or just memorise such textbook examples, it can still be said that you're still just copying someone else's work. The same can be said for most Maths/Science subjects. In contrast in English, there is no right way regarding your ideas. The majority of ideas that will score you some actual marks will not be ideas that you've ripped from a study guide, nor heard from others. It is purely your thinking alone that will get you these ideas - not someone else's. What sounds more difficult? The reason why many don't achieve the English score they want is because they lack this ability to 'think outside the square', and consequently, I think it's fitting that they don't achieve those 99.90+ scores because honestly, such skills seem way more desirable to me than the ability to recall the process for solving implicit differentials.
Also, people continue to question the point of texts and say that they're pointless, but they're really only there as a medium to base your ideas around- I mean, what the hell else are they going to get you going to write on? It's not something as simple as "they're just getting us to talk about characters and themes, what's the point in that?". It's just that there's not much better to write on which doesn't disadvantage certain groups.
Overall, I also think that just people need to get off their Maths/Science high-horses and realise that humanities subjects can actually be far more challenging depending on what kind of person, and I guess, what type of intelligence you have. There's nothing to say that just because you aced Maths, that you deserve a higher ENTER. You really should actually be grateful that the current VCE system favours such students already, and in turn, penalises students who study humanities subjects because it can be seen that the majority of the people in these subjects are perhaps not as smart as the rest of the VCE cohort, and hence the entire cohort for that subject consequently gets scaled down. However, I have no doubt that some of the most brilliant minds I've met in my life are those who sit at the top of these penalised humanities cohorts, because like I said before, these are often the people that have the ability to think for themselves, not just work off someone else's work.
EDIT: Do note that I'm referring to VCE-style Maths. Obviously high level Maths involves a high degree of thinking on one's own part - I just don't think VCE does.