I doubt problems with the culture at some of USyd's colleges will effect the perceived standards of the degrees awarded there. Especially given the vast, vast majority of students don't live there.
It will be in the media for about a week, and then something else will come up that everyone can get worked up about. It will have an effect on the running of the colleges etc (hopefully) but I doubt it will affect the reputation of sydney university, or its degrees etc at all.