You're right. Software engineering, however, is not. And, having started (and dropped) a course on object-oriented design (with design patterns), I can tell you that software engineering is not a joke. The FReeper who called it "extreme" is right on the money.
That said, it is important to have business acumen. Too many mistakes were made during the dot-com frenzy by tech people who knew nothing of business, and vice versa.
And, those "programming concerns" you speak of: we computer science folk learn the "why" of data structures, computation theory, object oriented design, and algorithms, not the "how" (that's why we have programmers).
A technical school programming course is as good as a CS degree from any college or university.
Yes and no. Those sorts of courses teach one or two of the latest languages. Technology dies quickly, but the theory behind it (which is what a good CS degree will emphasize) will live on for far longer.
The CS folks are the architects, engineers, and scientists. The programmers, IT folks, and business folks are still important though; they make our theory come alive and bring it to market.
The CS folks are the architects, engineers, and scientists.
The theories don't live forever, either. With every upgrade in hardware - size and speed of any storage device; networking capabilities; etc.- the CS theories need an update. And those upgrades come fast - every 3-5 years there is a major upgrade somewhere.
The CS folks can only do as well as their specifications allow. And even companies who do their own development in-house won't give the CS folks free rein. Some of those do, however, teach some of the CS folks about the business so that they become part of the specification development process. That's not typical, but it does help to get better results.