University Lecturer - I could do that

I try to make the effort and turn up to most of my classes. I work on the assumption that if somebody is 'teaching' me a subject, then they know their stuff and it can only benifit me to hear them explain things.

This semester though, i have a lecturer that does nothing but read DIRECTLY from my textbook, accompanied by a powerpoint listing the SAME HEADINGS as my textbook pages.

What i would like to know is first, why should I even bother to turn up? I can achieve the same if not better end result if i spend that 2 hours at home reading it myself. And secondly, how on earth did this person become a lecturer? Are the only pre-requisites being able to read to a group and click 'next slide'? A loose understanding of the subject a plus? how much do they get paid anyways..