Engineering is an applied science.
I have worked with a few PhD's and they have a strong academic background but are a total failure at hands-on, practical engineering and project management.
Far far away from getting a concept, patent, idea etc. into something tangible. They cannot do product development.
This is a huge problem for universities, to turn their IP into businesses.
I've never seen a job posting for a EE/CE/CS PhD, so I decided it was not worth pursuing unless you want to become a prof and stay protected inside the small world of a university, as opposed to working in industry.