You see, when you study for several years, you learn the fundamentals of electronics and engineering. Unlike the schmo who took that networking job, you will have a broad ability to tackle almost any kind of engineering project that comes your way. You will learn to think and solve problems . Being a real engineer means you're a professional . You'll be able to use both theoretical knowledge and incredible problem-solving skills to figure out how to design all sorts of stuff.
Employers love that.
The industry just moves really fast. Well, if a company hires a guy who's got a fish, then the company has a fish. If it hires a guy who knows how to fish, well, fishing takes time, and time is money. Companies just figure it's better to go for the exact expertise. That makes it easier to get a job.