Immediate reaction: Make "Computer Science" the theoretical degree, and use a different name for folks who are planning to do applied stuff. We already have various flavors of engineers (vs. B.S. degrees in Physics), doctors and nurses (who mostly don't have any degrees in Biology), pharmacists (vs. Chemists...at least in American English), etc., etc.

At $Job, one of the biggest red flags for hiring is that the applicant is well-prepared to continue their career in academia.