It is likey just anecdota from bad colleges/bad students. I went to a normal german university, did not complete on my own terms, but I surely learned there a lot. Even though the university intentionally did not hold my hand teaching me programming. I had to do that mostly on my own. But they gave the theoretical foundation of all the important concepts about IT. Algorithms, data structure, information theory, math, .. things I did not often see at the time any direct benefit "to get shit done". But it payed off.

Because they didn’t pay attention. Or were too busy partying.

I wasn’t the best student, but I learned a ton in those four years.

You are missing option C: College classes simply don't teach very much.