Not a great state of affairs.
But of course, if you follow all the steps, that only the vendor knows, it can be EAL4. Just don't miss one of the 100s of settings... :/
[1] https://web.archive.org/web/20040214043848/http://eros.cs.jh...
So, your claim is understandable but incorrect. Useful work repeatedly got done at higher EAL's. It continues to get done. The real problem is (a) bad choice of mechanism for TCB and (b) bad evaluation process. Most of us skipped high-EAL evaluations for private evaluations instead by people working with us throughout the project. Saves so much time and money while providing even more peer review.
They really need to improve the evaluation process itself so it's not so cumbersome and update their guidance on best mechanisms for policy enforcement. Probably sponsor via funding some of them like they did in the old days. Fortunately, DARPA, NSF, and EU are doing this for many teams so we can just leverage what they create.
The previous, while working with netsec, stands practially for abandoning the sound principles and going for superficial compliance models. There is no real security architecture in place for most systems, there are not trusted paths of handling information, and the assurance level is at rock bottom. The result is scary, when you take it into the context of your adversaries being hostile, active, and very well funded (typically state sponsored).
Actually I considered elaborating the previous with examples from real life, but then I realized that stuff might be classified, so... Meh.