As a software engineer, software "engineering" is a joke, at least in the sense we apply that term to other disciplines of engineering. It's not like all that complexity you mentioned is understood. It's worked around, and then the workaround is taken for granted and exists in perpetuity because nobody can discern why it was done in the first place. Watching a mechanical or electrical engineer be able to predict the performance of a design in a hypothetical scenario and then have that prediction largely reflect reality in later testing is pretty enlightening. These types of things generally don't happen in non-trivial software systems largely because software "engineers" don't really care. Formal methods for verifying correctness is something we've decided isn't worth it. Formally verified operating systems like seL4, and languages that lend themselves to formal verification like Ada/SPARK, are nothing more than oddities for most software engineers; the only places that bother with this are hard engineering firms that are trying to live up to do-or-die performance guarantees.
Additionally, the minimum knowledge required to be a "good" software engineer is significantly lower than the amount required to be a "good" electrical engineer. You are not pushing any limits without an expansive understanding of mathematics, multiple opportunities to work on some very expensive shit, and an employer that's actually pushing something forward. Getting a VLSI/radio electronics/DSP/etc. engineer online is a process that takes years before that engineer doesn't need constant input to keep them from shitting the bed. Unless you're so passionate about it that you can't possibly bring yourself to do anything else, you would have to be insane to go through the amount of learning required so you can pull a salary that will only slightly top an entry-level software development job.
None of this is to say that software development isn't valuable, or that the people that are doing aren't skilled, but as an industry, we don't hold ourselves to anywhere near the standard that other disciplines do, and there's not much to gain other than saving face by not admitting it.
