One cause I've seen of this is the "college is not needed to be a coder" trend from the past few years (decade?). it is true that most of my skills were acquired after college, but there is some sort of global system understanding that you get from college (in my case computer+software+network engineering) where you can quickly narrow down potential sources of a problem, all the way down to say, the TCP/IP stack, CPU…
While I also attended college, I sometimes wonder if a college degree is really needed to learn these general stuffs. I learn a lot while doing projects completely unrelated to schoolwork, before registering for the course. I still have to register for the course because of graduation requirements, but I just skipped all the lectures and only took the exams. There are nice materials and textbooks available, and I thi…
Not everyone has the discipline to self learn through a course. Not every one knows how to properly and effectively absorb and retain knowledge, and not everyone knows how to make that knowledge useful. What college does is provide structure and a favorable environment for learning where you're among peers, sharing the same experience and learning together "how to learn".
Some people are able to get fit by themselves, others need structure and guidance, so you have a whole industry of gyms and personal trainers and programs that require attendance.
My point is that this attitude towards college (or other forms of structured/formal learning) might be what is creating large numbers of full stack developers, devops who only know terraform, etc, who couldn't debug the first networking issue even if the error message was right in the browser. Moreover, the official point of college is that it provides some level of confidence to your peers, employers and customers that at the very least you know the fundamentas of your profession, because without them it is not enough that you're a react wizard, or a microsservices expert.
I think if there were a baseline of required knowledge, most products we build would perform better, consume less resources and fail less.