Yes, it's mediocre, and that is optimal for attracting college football recruits who don't want a joke major. Being a college football player and trying to get a degree from the #4 undergraduate engineering school in the country is...well, it's not impossible, but let's just say Sean Bedfords are few and far between. And honestly, for someone with NFL aspirations, it would be a dumb decision: your career lies in football, you should be mainly focusing on that, not pouring 60 hours a week into getting a great ME degree you'll never use.
To be honest, at this point it kind of does. The reality is that our school itself and our alumni are very focused on academics and it definitely hamstrings our football program.
Now, there are ways around that that have been discussed ad nauseum, but we're not currently doing most of those things, as has been argued about incessantly. The one thing everyone agrees upon is that we're currently playing with at least one hand tied behind our back, and while I'll root like hell for us to beat U[sic]GA, I know we're playing a losing game because we're two different schools with different focuses, so it doesn't upset me nearly as much as it did before I accepted that.
As for the jokes about their academics? Yes, it's petty and stupid...but what are college football rivalries if not petty and stupid?