Re: It's whether the degree is *hard* or *soft*
Excellent comment, sorry it's from an AC I can't credit!
University CS programs are mostly second-string trade schools, and many of the students aren't very good at it either. A friend of mine teaches at a prestigious uni here in the colonies (New England), and he thinks the majority of his students are pretty badly prepared, though a few do "get it".
You also have to distinguish between university education for job training vs. one for education per se. Skills-focused learning is as the AC noted best left for apprenticeships, self-teaching, or on-the-job training. That probably should include a lot of computer skills. The hardest schools to get into here in the states are the small liberal arts colleges. They represent maybe 3% of total seats. They don't promise any particular job skills, but do provide a very broad education among other very smart kids with similar interests. Of course they don't turn out code monkeys like the big unis do, but these graduates often become the managers, creative thinkers, and other leaders who can synthesize ideas from different domains. It's not for everyone but it works really well for its audience.
Bear in mind that university education here in the states is ridiculously expensive; list price at some is $60,000/year, and even our state universities can cost around $25,000/year for in-state students, much higher for out-of-staters. This leads to huge debt and limits access. And we have a big "profit-making university" sector now, phrauds like University of Phoenix, where you pay top dollar to attend a class at a rented office buidling or take an online course. Most never graduate, and the degrees are only valuable in government-type jobs where having a degree is a check-off, not where a selective hiring manager reads the resume. The majority of their money comes from government loans to students who think it's a ticket to wealth and success.