I taught a lot of IT in several contexts:
1. As a developer/instructor working for IBM and teaching IBM Systems
Engineers technical courses.
2. As an instructor with IBM teaching IBM customers technical courses.
(Note: I did many other technical jobs for IBM besides education)
3. As a university faculty member in a small liberal arts college
teaching effectively 1/2 of the curriculum (and developing
changes/new courses etc.

My comments on what you wrote:

1. The "who" is very important - many of the people who learned on the
job were highly motivated and learned it because they
really wanted to. I was in the category (I graduated as a chemical
engineer and began programming to model oil refining).
Some university students are like this - they just like computer science
and learn far more than what they have to do for
courses. Others do the minimum.

The people I taught as an IBM instructor (IBMers and customers) were
generally very highly motivated - it was a privilege to go take a week
or two
away from the job and concentrate on learning. Some of our classes for
just IBMers were 7AM-5PM with extensive homework prep for
the next day's labs and people loved it.

2. Universities can be very slow to adapt. This is for good reasons (too
rapid change makes for chaos in graduation requirements
and course sequencing) and bad reasons (universities have a lot of
people who are coasting and are hopelessly out of touch). Furthermore, 
universities are in general resistant to innovation - goodness, they still
have tenure!

Ultimately, in my opinion, the biggest issue in universities is the
students - far more kids go to college than are college
material so you have students who are not interested enough to live and
breathe computer science. This is a huge factor.
I had students who were not natural aces at programming, but learned it,
yet they loved the field and used online resources to
stay current on what is happening and to research interesting questions
that arose during their courses. These students graduated
as very competent IT workers. Others just treated most of their
coursework as something to "finish" - never realizing that
this approach would not get them much of a job. And among the mass of
colleges (community and 4 year) who essentially take
anyone who will pay, there is a tendency to dumb down to the students
they are given. Obviously, the selective admissions schools are different.

Well, my thoughts.
Earl Rodd
Retired from IBM and Malone University