It's not that students don't see value in the CPA license — it's that it's expensive and difficult to achieve, and frankly, not that exciting to a lot of them.
A recent study by the Center for Audit Quality and Edge Research sheds light on the "pipeline problem" — the increasingly insufficient number of young people studying accounting and then going on to become CPAs — both broadly in terms of what's holding students back from pursuing careers in the field, and specifically in terms of what's discouraging minorities for entering the profession.
Highlights of the study are below; read