I think they should implement the old California board equivalent. I've heard of pharmacists complaining that NAPLEX standards have been lowered to bare minimums. Virtually every school now has 90+% pass rates.
Schools matter in curriculum structure, emphasis, and quality of rotation sites if that's important to you for future residency/clinical advancement. But like what's been said above about school choice, aiming for retail/community practice won't likely affect you at all. Most of the pharmacy shortages are happening in the rural areas - you'd be surprised how the urbanized areas where everyone wants to live actually has competition. I don't know how pharmacies hire, but at least in the future, I'm banking on UofM's reputation to hopefully get me a slot in where I'd like to work. They better considering how much hell they put us through