Anecdotal experience:

I used to work out of a space provided to my employer by a university, as part of their startup accelerator program

It was on-campus and there were students also in that space, so during lunch and breaks I got to know many of them

In my experience, students about to graduate from the CS program had near-zero tangible skills and lacked the ability to build basic applications, in any language.

This was in the USA, FWIW. I think our CS programs are pretty trash at most universities.

One of my current coworkers applied after graduating and failed the interview and was only able to pass after paying thousands to attend a coding bootcamp.

CS is the study of computing. There are plenty of Software Engineering programs that focus on how to architect and deliver software products.

The fact is that most CS graduates go and work in industry when they're finished. Having some basic knowledge on how to deliver and architect software projects would come in really handy considering that's what they'll be doing as they've graduated.

Yeah, but that's the shit I can teach them easily on the job. I'd rather their degree teach them the answers to the "why" kinds of questions. It's more onerous for me to schedule someone to shadow them and answer those.

You can do both. You can incorporate these tools into courses that teach the "why".

Well it wasn’t MIT but it wasn’t DeVry either. My guess is his curriculum is pretty representative of the current state of things.