Moi begs to differ. This node title reminds me of a similar writeup from "The Disillusionment of College", about where the sense of accomplishment that one is led to expect when receiving a bachelors degree from a major university had gone. The answer is the same, and it's essentially: you get out of it what you put into it.
Being an Eagle Scout means that you put considerable time, effort, and energy into leading a group of your peers and completing a service project for your community, when you could have been doing any of the other things high school boys usually spend their free time doing. It will help you get a job in the next several years, because employers know that you're capable of making yourself useful to society.
Nobody joins the Boy Scouts to impress their non-Scout friends, anymore than they encourage voter registration or pick up trash on the ground or spend time at a children's hospital after school to impress friends. Capitalism rewards capitalistic endeavors, and most people recognize the acquisition of wealth and property as something to be impressed by. This is not a universal truth (see also: Kurt Cobain).
Sarcasmo hasn't elaborated on what he did for his service project, although it's clearly not something he's particularly proud of. This is also not universal. Being an Eagle Scout means nothing to him, but that's not the same as saying it means nothing at all.