As a self-taught programmer I agree with this. I started teaching myself on 8 bit computers in the mid-80s and didn't go to university. By the time I got my first full-time programming job, at the age of 19, I'd already been programming for 9 years. By the time most people are leaving university I was already nearly 15 years into my programming journey. It's hard to ignore that kind of passion and drive.
I'm now four decades in and love it in the same way I did at the start. I'm a maker, I like making. I keep reading the papers and am constantly interested in where this thing is going ... and I write a lot of code!
However, I don't like the premise that self-taught engineers lack foundational concepts just because they didn't go the academic route. I think many of us find the academic aspects just as interesting -- it really depends on the field you're in I think. For sure, we don't normally have the time to do a deep dive of something, but by the time you're decades in you've probably got just as many if not more 'foundational chops' than someone who spent a few years at school.
Anecdotally, as someone who's hired and fired plenty over the years, I think there is something to the Self-Taught Engineers Outperform theory. But I think it's purely that they spend much more time doing. They do more in work and they do more in their free time. The passion brute-forces the learning.