Admittedly an awful choice of commencement speaker, but perhaps among the five least important matters in a student's career. It's less important than students having a say in the dining hall's choice of salad dressings, for example; I remember the ranch dressing with perhaps inordinate fondness, but I have no idea who my commencement speaker was.
My school picked a student's name out of a hat and chose him as commencement speaker. Not a particularly inspiring speech, but at least not someone bad.
I also got a 128 MB flash drive as a gift. This was in 2013.
FWIW, I think Nathan will make a fascinating commencement speaker. He gets a lot of flak (rightfully) for Intellectual Ventures but he has a lot of success in multiple unrelated fields (cooking! archaeology! Microsoft).