I think it's necessary, and definitely keep that requirement for the denominations that already require it.
But intellect and book smarts aren't what make great priests or pastors, honestly. Their main job, when it comes down to it, is to spread the Gospel. Nowadays that means you need to convince people that they should listen, and once they start convince them why it is Right and Good.
That requires skills that you can't easily teach, and aren't always taught in seminaries or graduate programs.
A good seminary however, should have pastoral, spiritual, and intellectual formation as well.
A good balance of three.
Many Christian seminaries however lack in intellectual formation, and I don't know if that's a good thing.
You're definitely true.
My experiences with seminaries is through the Episcopal Church, which are probably a lot more intellectually focused than seminaries in other denominations. So my opinion is skewed to that lenses