4-YR grad rate for freshman class of 2012 was 38%.
Not that this will sway your opinion, but here's your requested link. This is obviously a number that the University wants to improve. As an effort to improve that number, the University tries to consistently deliver a message to incoming students that partying your way through year 1 is a good way to become part of this statistic. My point that you will gloss over is that branding a beer with the LSU logo puts LSU in an inherently conflicting message.
Plus, LSU endangers itself in becoming "Hold my beer and watch this" State University. It's not worth the revenue. If you value higher education, bite the bullet and demand that your state legislature properly fund it through *gasp* taxes rather than having a bake, err beer sale.