I think you have a pretty narrow view of things if you consider "family or friends who work in the industry" as the only form of networking. Clubs, conferences, online communities, and build-and-release-useful-things are all effective forms of networking.

The job market is the pits and feels more like a game of musical chairs than an evaluation of aptitude and ethics. Lots of old paths are getting very narrow. Some are closing.

But we now have tools that let you just build big things, all by yourself. In this new world, bonafide coding expertise is helpful. But it's not required. New graduates should just get out there and start making things.

I think you have a significantly narrower view than them. Consider someone moving to a new city or someone getting out of jail. It takes time to do the networking you're talking about. People need to eat and networking doesn't fill your stomach.