I think the problem has more to do with students' motivation than the PhD itself. In fact most of the grad students I've talked to in various stages have no rea

I think the problem has more to do with students' motivation than the PhD itself. In fact most of the grad students I've talked to in various stages have no real plan for AFTER completing the degree. So they in turn have no motivation for actually understanding the subject they've picked, and no thought process for selecting a research project. They pick the easy topics (or let their advisor pick for them) and don't attempt to study or understand the stuff that will get them noticed or get them a job. The whole point of the PhD is (supposed to be) preparing you for academic work - it's a demonstration that you can do novel, creative, and independent research at a level of your peers. It's not just proof you completed the checklist like a BS. The problem is that many universities have turned it into that. The flipside of all this is that it's pretty easy to tell in an interview who just "did the PhD thing" without any plan for what happens next. If you ask me, that's what's going on here. The people who were aimless to begin with are still aimless. Source: I'm a recent PhD graduate, and work in an hybrid academic setting interacting with current MS/PhD students.