I don't think it's a serious flaw that you can graduate from a top university with a CS degree without ever having written SQL, react, or used revision control. To me, those are vocational topics and can be learned on the job or in [paid] internships.
Nonetheless, if a company has got a load of not-difficult programming that it needs done, they're probably still going (and will be well-served) to hire someone with a college degree. Why? Because completing a degree shows you can follow directions, are basically compliant to a framework of rules, can doggedly pursue something over multiple years when the payoff isn't obviously tied to each day's effort. It's not needed, but it's also not insane to think that companies prefer college grads.
That‘s not to say that going through uni without having heard of git is the sign of a good program, I don‘t consider my program to be all that great but at least I had to go through two labs that required us to build software from scratch using git or svn.
No different from expecting to see workings for maths homework.
Some programs, at least, are conscious of this problem. MIT built and shared their "Missing Semester" [1] course to help with this. There are also some schools developing more practical software engineering/computer engineering degree programs.