Not "snakeoil" per say; employers will care about your history of education: but as an aspiring computer engineer currently in CC looking to move to a university, I've learned exactly 0 useful things at community college. Outside of the piece of paper you get at the end, it's all useless busywork, testing how much bullshit you can put up with. Everything useful I've learned in life has been for free, provided kindly by passionate communities. Hopefully this changes in university.
I think the value employers place in modern education in the United States is snakeoil, however.