Computer Science isn't software engineering. I know lots of good computer scientists that are terrible software engineers (and vice versa). So expecting a Computer Science degree to teach you to be a software engineer is like expecting an English degree to teach you to be a writer. It's useful, but not essential.

The key thing is that software engineering is a vocational skill. It can only be learned on the job working as part of a team (very little software is developed solo). So if your degree course claims to teach you how to be a software engineer but doesn't have at least six months working in the field, then it's worthless on that front.

If industry wants better software engineers it should invest in them itself rather than getting someone to do the job for them.