I graduated from the University of Essex in 2004, it was ranked 44th out all the 127 universities in the UK, so a very middle of the road uni, nothing like the Redbrick or Ivy League unis
The Computer Science course was heavily Java oriented, there was a bit of C, SQL and *shudders* Prolog too
It taught us everything mentioned in Bjarne's article with the exception of direct memory access, because it's not needed except in some very specific situations (e.g. when Accenture were re-writing the trading platform for the London Stock Exchange and speed was of the utmost importance)
Bjarne spends much of the article plugging his book and talking about the impressions of employers, but when was the last time he spoke to a developer in the trenches? Starting salaries for graduate developers in the UK are appalling (outside of London), the pay is about the same as that for a data entry clerk (I've done both and the latter only involves 2-3 hours work per day with the rest spent looking busy)
Being a good developer demands much more than a 9-5 commitment ESPECIALLY during you first job, if there is no incentive then why bother? Why not just find another career which isn't so demanding and has better rewards?
That's why there's a shortage of good grad developers these days, because the smart ones have already figured out that the game is rigged and it's not even worth playing