I think Jimmy the Greek had it right when he argued that certain races had physical attributes that allowed them to excel at sports (P.C. paraphrasing). You should care if you end up with a football team of asians...particularly if you've got to play the black team.
In the realm of education, though, I think it's a slightly different story. We're all given a brain, and with that, the tools to learn. Certainly, some people are "left-brained" and some are "right-brained", meaning that we all acquire knowledge in a different manner. But we all have that underlying ability to learn--if we want to.
The problem with this whole issue is the notion that my ability to learn depends on the guy sitting next to me in the classroom. That's where the BS begins. Certainly, diversity of opinion is necessary to certain curricula, such as philosophy or other "liberal" arts, but even that diversity can be introduced by other means...guest lecturers, debate series, reading from other sources, etc. Diversity of opinion shouldn't mean the lowering of educational standards.
If we would just take the tack that higher education is a "privilege" that is to be bestowed on the best and the brightest (the ones who have demonstrated the greatest capacity for learning), and not a "right", then this whole issue could be put to bed rather quickly.