Based on my experience (two undergrad degrees separated by a dozen years and working in higher ed for 10 years) I think faculty are just as, if not more, interested in those things. The problem is there are 30-50% more students than there used to be, and they now have 24/7 access to the faculty over email and social networks. So there is more interest on all sides, but the amount of time in the day hasn't increased.
If the university is promoting networking and career development with the alumni, it's because the membership model of alumni engagement is in decline and they are looking for an alternative way to keep the alumni engaged over a lifetime. And alumni offer the chance to be mentored by a much broader audience and get a true one-on-one experience.
