Harvard has increased focus on applied arts in recent years. This is true for music, film and drama as well. I am not sure when Gibby’s daughter attended but things may be different now.
On the music forum here on CC, conservatory BM versus university BA is often discussed, and the same issues arise for a BA in visual studies versus BFA. A Harvard BA is essentially a degree in the academic study of art, but as I said, Drew Faust has made a point of increasing applied/studio art studies. This effort began some years back when most grads were going into finance and there was a feeling that students concentrating in the arts maintained a richer, more diverse student mix. I don’t think VES is marginalized at all and is quite well thought of. Their website emphasizes both studio and theory.
But if your child wants to be immersed in art-making, with the majority of classes in art, with the BFA focus on studio work, there are other, better places to go, yes. Art schools like RISD, Savannah, Mass. Art…many others. Or artsy liberal arts colleges like Bennington, Skidmore, Vassar, Sarah Lawrence, Hampshire.
Harvard has gen ed requirements, and so an arts concentrator might take 1/3 or even 1/2 of total classes in the major. A BFA program would probably have more like 2/3-3/4 classes in art. And the proportion of studio classes might be different. Check things like gen eds, number of studio classes, and perhaps also whether there are courses geared to career.
Then again, I don’t think major has to match career either. This is changing, obviously, as more people want a return on their investment and so on. But honestly an arts concentrator can work in many fields after graduation (hence the Bain). It is very worthwhile spending those precious 4 years in a rich environment studying something you love, and figuring out the career thing later.
Of course, a lot of art can happen outside the classroom, and independently. Also, if a “day job” is a concern, then interning, volunteering or working while in college greatly enhances career choices and opportunities.