It turns out, IMHO, that the real message of the speech (= Jobs' career) could be not that "dropping out is good for you", but "attending a humanist university is good for you (and the rest of us)".

Hunting for any honorary qualifications, I learned that Jobs is a member of The American Academy of Arts and Sciences (is this due to his almost-alma-mater Reed?)

Members are elected for distinction and achievement in five areas: mathematics and physics; biological sciences; social sciences; humanities and arts; and public affairs and business.

Stanford's reasons for choosing him:

“The name Steve Jobs is synonymous with innovation and creativity over the past three decades, ... Steve has been a leader and visionary, a pioneer in the use of technology as a means to create a more engaging and humanistic world. The advisory committee identified Steve as someone who personified the spirit and creativity that have characterized Stanford since its founding. ... We think that Mr. Jobs is uniquely qualified to speak to seniors about the future of technology, business and the creative arts. More importantly, throughout his career he has maintained an integrity that is a fine example for graduating seniors.”

Well, that should silence all doubters...