I'm also pleased to see people taking initiative to organize events and make things happen. The student organizers were able to line up a slate of speakers that was swooned over by the some on the left.
My problem with the event was the presumptuousness of it. I read in one account that people were wearing caps and gowns. If that report is accurate, they were literally staging a fake commencement. There can be no "alternate" that is not sanctioned by the university because students don't have the power to grant themselves degrees. Nor do they have power to honor themselves. So in that sense, any alternative commencement is a sham and a fraud.
Of course, commencements mean less these days than they used to. I know that the commencement is not the place where you actually pick up your diploma. There is a separate event for that for each college within the university. Many students forgo commencement altogether; I did. I'm told that it used to be relatively mandatory. Knowing that times have changed, maybe the "fraudulentness" of an alternative commencement is less severe now that it was in the past. Even so, I wish the event had been framed as a commencement enhancement rather than an alternate.