Oauth2, JWT's, hashes, timestamps, validations, and such, are all totally simple until they're not. The black hats have way more experience and way more time invested in this space than most any normal dev.
It's mostly overrated, but not entirely so.
The vast majority of software development that I've learned has been outside of school, but there are a couple of core CS (and data science) concepts that I never would've learned if not for uni.
What I came out with was a far broader picture of what's been done in computing and, more importantly, how to find and read information about it. The biggest difference between me and my colleagues who haven't been to uni is when they run across something they haven't done before they are completely lost, whereas I'm usually able to say "hmm, that sounds like a graph problem, I think there's an algorithm for that".
Having said that, what I didn't come out with was how to do testing, version control, CI etc. Luckily that stuff is easy to learn on your first job.
Anyway, the students grokking computer science are usually the better craftsmen, too.