Hmmm, I'm a hardware engineer, turned software... hmmm
I actually think your point is well made. I'm a product of the University of California system. Did I learn much? Not really. Frankly, I think the UC system, although good, fails in one important way. It teaches mostly theory and not practice (I'm going to be slaughtered by others here for saying that, I'm sure...). I was always a hands on person, though, so I was in better shape there. But I was stunned when, in my first job, a UCB EE graduate needed to have me explain to her how a relay worked.
Fast forward 20 years and several jobs... I was talking with several of my Indian colleagues about education. In India, the practice (I shouldn't say this is true at all schools... I really don't know) is to have a program where you get hands on experience in different disciplines. As such, the Indians I worked with knew some fundamentals about lathes, milling machines, welding, etc. They did not know a lot, but at least they were exposed to the concepts. Further, it was a way for them to decide if they wanted to move into a different area of engineering. These were all software guys. Frankly, I think that was a +1 for the Indian educational system over the US (or at least the University of California) system.