I found the following article, while not directly addressing CF, to put to print what many on this forum have been saying.
From ComputerWorld.com
Opinion
by Ira Winkler,
Unfortunately, the colleges are often selling these people hype, not reality. For example, one college is telling people that they are training them to be cyberwarriors, while the actual coursework teaches them to write security policies, not to be hands-on practitioners. This is like telling someone that you are training him to be a Navy SEAL, while you are only training him in logistics, qualifying him at best to be a quartermaster for the SEALs.
When you come right down to it, though, there is little in the world of information security that is more valuable than experience. And new graduates nearly always lack it to any significant degree. Just think about someone who takes a class in security policy. Say there are 15 class sessions that average three hours each. Then let's generously assume that the student does 115 hours of work outside of class. By putting in 160 hours, the student can rightly be said to have worked hard for his grade. But all that time is still the equivalent of just four workweeks. Would you trust someone with that level of experience to develop a policy document for a large office or to meet some regulatory compliance standard? Clearly not. It is nice that they have this experience, but it just makes them better than a person with no experience at all.
To quote Homer Simpson It's funny cause it's true.
Of course it's not so funny for people who invested 4 years and accumulated student debt for a degree that's too narrow to get you a job as a SysAdmin, which is more likely to lead to an InfoSec job than anything.