EE degrees are a great example of the "misunderstanding" of what a college degree is. Nearly every Bachelor's program in E. Engineering from 4-year universities graduates people who have nearly Zero experience (directly or even on-paper) designing real-world projects. These degrees (arguably, like all degrees from 4-year universities) are *not* meant to be job training. They are meant to be education, useful for one to then go get job training.
It's the universities' own fault for pretending like these degrees will produce a job-ready, knowledgeable engineer.
I don't really feel misled by my university. They were pretty up-front that the degree was not a ticket to get a job designing the space shuttle, and at best the most we could expect was 4 years of a jobs doing testing and validation before touching design. After getting an EE BS, you're pretty much qualified to be an Engineer In Training, during that time is when you actually learn some EE stuff. Everything in undergrad is basically just providing a foundation to build upon.