Is a business major worth it?

I have heard from many people that a business major, such as business administration, is not applicable to the job other than in the hiring process? They mentioned that business was something that you could easily learn yourself by reading some books and self studying?

Can anyone respond to these claims?

Thanks in advance!

Business administration is a very general major. IMO a student in a business school program would be better off studying a skill such as accounting, finance, IT or something along those lines.