The idea that university is job training just needs to go. The academic material may be relevant for work later on but it often isn't, and on the job there is way more to learn.
In engineering school you solve problems similar to industry - but its more the difficulty than the similarity.
New grads can handle the difficulty your job provides. If you train them - they should get the hang of it.
Industry leads academia in undergrad - not the other way around.
Industry knew that new grads needed 6-12 months of niche education (this is the general operation of Turbo Encabulators https://www.youtube.com/watch?v=Ac7G7xOG2Ag). It was in their budget. Now.... not so much.