Even an IIM degree may be worthless if you do not learn anything while pursuing it.

Because you have not specified the nature of your use for an MBA degree, it is assumed that you are a working professional interested in gaining theoretical knowledge of management through an MBA from IGNOU.

When we compare IGNOU to other distance learning universities such as SMU and Symbiosis, we can see that IGNOU stands out due to the well-structured course material and the importance of assignments. The faculty who are mentoring SOMS IGNOU (School of Management Studies) is top-tier professors from IIMs and IIFT, as well as senior government officials. 

However, expecting an MBA to be equivalent to a regular MBA degree to get a job is unrealistic. Most MBA programs in India are extremely rigorous and intensive. This is because a future manager is expected to perform under pressure, and a management student is subjected to that pressure from day one of his MBA program. As a result of regular case study discussions and extensive knowledge sharing in peer groups, a regular MBA is considered to be far more valuable than a distance MBA. However, a regular MBA requires a significant time and financial investment. 

So, if you are already in a well-established job and want to advance to a management position or simply learn more about the theoretical aspects of management, an MBA from IGNOU will undoubtedly help you serve the purpose with minimal investment of both time and money.