Unfortunately, cybersecurity was a hot topic in the education market and people got sold on the idea that they could get a six figure job with nothing but some theory and an entry level certification.
Then what was the purpose of sitting for a degree?
Security, qa, devops, data emgonerkng, the list goes on and on.
Infosec also adds the angle that you want someone with actual grey or black hat hands on experience
That was one long ass day!
So in this sense it is true there is a significant shortage of qualified cybersecurity people to fill the roles.
The mistake is that institutions try to fill that shortage with some undergrad program (or worse, certification) which of course can't build expertise in all the above fields in a few years. So that graduate is nearly as unqualified after graduation as before.