I suspect it's an accurate statement. Employment life comes with many requirements many of which aren't taught at schools and aren't always easy to pick up when self-schooling either.

I don't think "ill-equipped" is the right word. You probably have the right "equipment", just none of the experience or secondary skills needed. Neither hacker nor college graduate. One might have more programming experience and the other might have more formal scientific training, but that's just not what is being talked about there.