I can't speak to journals, but as someone who's been on both sides of IEEE conferences, that it absolutely true. I've seen conferences where almost none of the researchers showed up to talk about their work---the students had to get published to graduate, so they submitted, got accepted, paid their registration fees (literally, the most important step), and, badaboom, they were officially published.
My personal favorite was ICDCS '98[1], where early student conference registration included a copy of the proceedings, until you got to the conference, where you were informed that, of course students couldn't get free copies of the proceedings. What were you thinking?
[1] The conference had a serious hiccup, committee-wise, and had to change venues at the last moment, so....
I just remember how my university, who had some standard and fairly comprehensive subscriptions to electronic IEEE and ACM journals, didn't get conference proceedings for some damn reason. From the critically-thinking student's point of view, conferences and journals look like two different ways of getting students to part with money with no recourse if the product happens to suck, as academic material so often does.