A PE is not a certification, it's a license, legally-recognized by the state. (Like other licenses, such as for mental health counseling.) You have to take 2 tests, one to start, and another to finish, after 3 years of professional work. As with most engineering students, I took the first part (the EIT), but never took the second, as my job never needed it. I wish I had, though. It would have been a nice feather in my cap.
In any case, I can ASSURE you that it was comprehensive, and you have to "know your stuff" to pass it. I've been Microsoft certified, so I've seen this side too. If there were a similarly-reputable license in software engineering, there would NOT be "certification factories" to crank out people who can pass the cert test, and who can do little else. I don't know what the analogue for doing actual mechanical/electrical/civil engineering problems would be in the software engineering realm, but that's the KIND of thing that would have to be tested. It would require a working computer and internet access, and not a duffle bag of engineering textbooks, like I had. ;-)