Really? I'd read so much about this notorious curve. Good to hear the reports were misinformed.
i can see this being an issue if you are in a t4/maybe t3 but not at t1 and t2 really in which very few people drop/fail out of school. you're probably right that it is something to consider and everyone would like the illusion of doing better with a comforting 3.2 rather than a 2.8, but i don't think it's "a major cause for concern".