It is illegal in several states (I believe New York, as well) to impersonate a clergyman. A while back, some non jewish criminal was actually arrested in New York for faking being a Rabbi. Try telling the DA that you never went to school to get a degree but you felt it was appropriate to call yourself a Rabbi. Dena d’malchusa dena.
I believe studying Torah changes a person. Serious study and focus on Torah topics (yes, even hilchos melicha), particularly with a talmid chochom, changes a person. That person who spent hours on hilchos melicha will be a better rebby with a better hashkafa than others.
Further, if Dirshu has taught the velt anything it is that studying for a test adds focus and competence. A fellow who is learning loosely will simply retain less and be impacted less than someone studying for a semicha exam.