I don't think that's quite accurate.
The "understand it well enough to explain it to a professor" clause is carrying a lot of weight here - if that part is fulfilled, then yeah, you're actually learning something.
Unless of course, all of the professors are awful at their jobs too. Most of mine were pretty good at asking very pointed questions to figure out what you actually know, and could easily unmask a bullshit artist with a short conversation.
Having watched from the outside as other people make this transition, it never looks fun. At least in large organizations, it just looks like a ton of added responsibility without enough additional authority to make meaningful change.
I remember having a period of time like this when I was enlisted - I was held responsible for the completion of tasks but not given authority to reward or correct the behavior of those in my charge. I would absolutely loathe being in that position again in the civilian world.