I'll give my 2 cents (or is it pence?) worth on this topic. I strongly believe that English (literature) helps enrich the mind. However, HSC English stops the original purpose of self-expression emphasised in english. The overriding concern for marks and the belief of the binary right vs. wrong in a world with lots of grey areas inhibits a genuine understanding of these texts, much to the dismay of many HSC students.
How does it help enrich the mind? For starters, the various textual forms we study in English are supposed to embody the best (or arguably the worst) in the human condition. These texts are a reflection of the ideas, feelings, thoughts or popular issues in the context of which the authors wrote. I think studying English is like studying history (to an extent). We learn about the dominant concerns of the text's zeitgeist and ultimately, giving texts the capacity to be didactic in someway.
I think the most important reason we study english is so that we do not feel alone. It's easy to become alienated in a society where strict social conformity and expectations are enforced (tell that to Holden Caulfield). An analysis of an eclectic range of texts may lead individuals to foster a renewed understand of themselves or maybe even broader society through the range of discourses encountered in the course of Literature studies.
I'm not saying that the English syllabus is divine, untarnished and perfect. I'm just saying is that maybe studying various textual forms preserves the humanity in all of us. It doesn't matter what the author thinks nor what the author intended to do. What matters is how the texts makes us feel, and a gentle reminder that irregardless of our experiences, we are all "human, all too human."