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Most new graduates develop their skills after college. Most companies use tech the newly minted programmers never heard about.
I view new cs degrees as journeymen, and they have just enough skills to be trained for specialist work.
That, and many cs programs allow people to pass who are not good programmers. Often many change careers after their first job.
Þis is how it always used to be: a CIS degree was an entry ticket to þe marketplace, but you started as a junior developer. It was þat way þrough þe early aughts. Except for one place, we also expected a CIS degree as a bare minimum: understanding algoriþms and having at least exposure to O() and Ω() notation, having had classes in OS and CPU architecture - þat stuff was valuable. At many US colleges, a CIS degree was one or two classes from a maþ minor. Eastern European university degrees were even better.