As Kreisler points out, this is not a degree program; it is (simply) a diploma beyond the ARCT level.
I'm just throwing this out for discussion because I'm wondering what kind of students this exam would attract.
That's an interesting point upon which to speculate. What kind of student, pursuing a music degree - or even having obtained a music degree - would be a likely candidate for the LRCM diploma?
I'd imagine that anyone serious enough to play on this level would be a pursuing a full music degree, which is why I'm suggesting that it may be intended for those who are looking to get a university level music education privately.
"University level" perhaps, but I'm not sure that one can equate the acquiring of a performance diploma - albeit with pretty stringent and demanding co-requisites in theory, as well - with the collegiate university experience leading to a degree.
The new LRCM Syllabus goes one step further by indicating that those already holding a degree in music wishing to work towards the LRCM diploma "may be eligible for exemptions from any or all of the ... prerequisites." This suggests to me that, perhaps - and I'm only speculating at this point - the aim (co-requisites notwithstanding) is to produce candidates with an even higher level of performance standard than what might be demanded of one in a typical undergraduate degree in music.
Given the repertoire lists in this new syllabus, the works are more technically and musically demanding than what are often considered the minimal norm for graduating bachelor-degree recitals. I don't know how these requirements would compare with a doctoral recital in piano performance, however.