I've often wondered about this. Who exactly has to be licensed? Are there management layers in civil engineering firms where the license isn't required? I think my point is pretty easy to follow. I'd love for all of us to be licensed to practice software engineering, but I don't hold any hope that it would fix all of the other compounding problems that our industry has as it relates to product/project management and management-born issues.
For example, would being licensed stop executives at a triple-A video game company from prematurely announcing games / release dates, or accepting pre-orders for games that won't be finished on time, and forcing all of the people under then to scramble and crunch and do things that would generally be considered anti-thetical to whatever being licensed in software engineering could mean?