I moved into IT from "formal" engineering and its always frustrated me that a job that involves working on extremely expensive engines using upper level college math gets paid almost nothing compared to people who change colors on a webpage every once in a while. I've been on floors where multi-million dollar pieces of equipment are used to produce parts with obscene levels of precision being used by expert machinist…
Because real engineers become hyper-specialists and get trapped. My one my high school classmates was a mechanical engineer who was one of the top guys for some semiconductor process that failed to scale and got abandoned. Got laid off and was unemployable. He sold herballife to go back to school and is a physical therapist now. It happens in software too. Plenty of sad tales of geezers let go from banks and governme…
In Latin America there's also a meme that lots of engineers have become Uber drivers. I have definitely chatted with more than a handful that were engineers. All of them said they hated programming classes too much during university, so they won't try to change to SE now, or to anything really.
I graduated as EE but immediately became SE. Ironically I also doubt that I could go back into being an EE now, so I'm also a bit "trapped".