Lol - when I was starting my MBA program some 20 years ago, I recall the question was posed as to whether there were too many MBAs out there. So I think that MBA programs are insecure by their nature. In my opinion, business classes are the closest discipline to systematized common sense. The concepts are not necessarily difficult to grasp because they are often innate to the human mind (which is why so many successful entrepreneurs have emerged without completing an education, much less an MBA). This is not to say that they are unimportant concepts.
I don't know whether MBA degrees are becoming obsolete, but they are likely more limited in value than other degrees in relation to their fields.
With that said, I would much rather be in a class of 22 than a class of 50.