Apprenticeships often boil down to grunt work and "watch me do it" for the first few years. This kind of work mode is acceptable as a teenager. But today the apprentice level would probably be until 30 or so. This education phase is currently owned by higher level academia. Many people choose industry over academia to avoid a lengthy education. If industry became the same, I think this would frustrate and burn out many people.
Those running the guild are probably not the best at a craft, just best at politicking and with the most vested interest. Those that would run a guild 900 years ago and VPs and CSuites today.
Also tech is too new. A technology can rise and fall within a decade. This makes lengthy learning periods impractical. We don't value consistency across generations (in-fact this would be now considered stagnation). This also means customers are less able to discern (or even care about) high versus low quality products.
On the flip side, education is much more readily available. A dedicate Master <> Apprentice relationships was key, because they were likely your only source of learning. This is just no longer true. Today we have so many knowledge sources that no single one gets such an illustrious title as master.
Most engineering disciplines have a professional community that requires you to take a proficiency exam (usually on graduation) and continued education. Companies will outright refuse to hire any candidates without the certifications. Programming will eventually have something similar, but the field needs to crystalize more.