How do departments evaluate and update their course requirements?
Departments ought to be concerned about their graduation rates. If the rates are low, it is a good idea to find out why and make changes. This could be changes to the curriculum, it could be changes to the admissions policy, or any number of other things. 

Benchmarking is certainly a reasonable approach to review the current rules, although niche marketing often gives incentives to introduce distinguishing features that are consciously pitched against the prevailing practices. 

I presume your department has a curriculum committee. Request a meeting and see where that leads.