Is the SDLC that was taught in the universities really that important?

I've seen companies dying because there's lack of standard on how to developer software or using a typical university SDLC. How many product-based companies died because their technical debt interest is bigger than they can pay?

I've seen hot-shot smart-ass students who just don't like to test their own code. Let's face it, most universities tend to put testing as a footnote in CS studies.

I think this is also part of the problem. CS seems too "science-y". Honestly, CS students should go to pursue research-based work.