Software Design becoming non existent now?

I've been in the technology line full-time for a decade, and part-time for more than that. Sad to say, it seems that many companies are now throwing software design out of the window. To many, it seems like they are only looking at speed and functionality. It doesn't matter if the software is unable to scale. In fact, I was so surprised when I heard a professor from a certain university saying that software architecture is not important. Needless to say, I will avoid that university at all cost.

Good software design will try to be as future proof as possible, and allows extensions to the software based on the requirements that are known at that point in time. However, good software design doesn't mean that the designers have a crystal ball and know everything under the sun. That is why software has a shelf life. If there comes a time where the requirements are very different from what was envisioned, there will be a major change in the architecture. This though takes a lot of courage.

However, if the designers have their eye on the future, the software will be scalable and upgrades to the software will be quick and simple, with minimal bugs created. The only time when major change is required is where the roadmap changes due to changes in technology or usage.

So do you think that software now is designed with software design in mind with all the bugs created just by those innocent patches?