When I was a hiring manager and scoped out juniors from bootcamps I had a conversation with some candidates and they would say, "I built user registration and login". When I asked them to talk more about it they said, "well I installed auth0"... Any student project which doesn't teach them how something works is not really teaching anything of value, is it?
Programming is not academic. It has more in common with plumbing and carpentry and electrician work: you learn only by doing, and you learn how to do it well by doing with critical supervision from a mentor.
Software development (and a lot of hardware development, to be fair) is unique in that doing it well requires functioning as both an engineer and a tradesperson. One's skill has to cover a wide section of the spectrum.
All joking aside, programming should be treated a lot more like engineering and a lot less like craft. Yes, it does have aspects of both, but neglecting the engineering aspects of it is proving to be increasingly harmful to our end users.
I think the curve of diminishing returns plays an important role. A near hack job will often get you 90% there, in terms of fulfilling what was exactly requested. I don't think this is true for any other skillset. It's so easy to make something featureful and fragile in software. The time and cost above that can be very difficult to justify to customers/management.
In the words of a previous boss, after I pointed out we need more testing, "Everything is working, we'll fix the bugs as they come".