Whenever I've been asked to mentor acquaintance's kids in school underway on their last year, basically any industry, I've hammered in the point that as a student, nobody wants to hire them fresh out of college without relevant experience. Folks in tech typically will hire almost anyone w/ an internship under their belt as well as a number of applicable personal projects that demonstrate skill and the ability to complete projects.
The irony is tech jobs just out of the market aren't exceptionally glamorous and typically focus on a single feature and a very menial task to boot that basically any college graduate in the relevant degree could perform, but candidates with internship experience easily edge out those with prestigious degrees sans any relevant work experience.
The internship is commonly the free or low cost method of determining whether or not a new grad has the ability to sit down, shut up, and do the work, eg work as a team.
Team work in any business is incredibly important.
Being able to listen to your peers or those just above you in terms of experience (not only expertise) and simply submit to the process that is professional work. Then there's also the part about learning how to talk to one another w/o unintentionally undermine one another's work because you might not know all the background to a situation. Oftentimes at work there're forums, opportunities, to learn the lore on why things are the way they are, but new students w/o previous work experience might be missing out on social etiquette or simply not have the awareness needed from those who actually go out of their way to pursue an internship.
The thing is, this isn't a new problem. Students, even from my day, always thought that they could just get a job w/ a college degree. With assumption, a lot of them ended up getting jobs where they could and ended up sticking in those industries. Sometimes in Finance/Accounting, some in Admin, some just working in service industry labor. The assertive bunch always found a way to network, make their name known, and get a decent job.