This exactly is the point, no? For an average candidate who has very little unique selling points, getting such a master's degree might not be a wise choice if they can get into better programs. But for someone like Molly, checking the box of "MBA" is likely a nice bonus on her resumé that helps her fulfil the minimum requirements for many more jobs than without. Then it becomes a good deal.
Sure, not every employer will care about her Olympic history, but that she'a hard-working, bright and goofy womand is her story, everyone can verify it, and someone will buy that. So: get degree to check off the requirement, sell yourself on something other than the school. Seems like a pretty good strategy to me, although i agree it would not be valuable for everyone.