That's my point. Walking isn't about those things. The diploma is about those things. These kids don't get a diploma. They just get to walk...which is a social thing: saying goodbye to friends, etc. They have all the requirements except the exam. Chances are, they're going to finish. Or not. The fact that anyone cares either way is ridiculous.
If they were getting degrees without doing the work, it'd be an issue. They aren't.