Yes, people need to understand that formal learning only provides the building blocks from which you go out into the big wide world and learn how to use that basic framework. It doesn't only apply to HR; it is relevant for any discipline. For example, an engineer can learn all the theory in the world about building a bridge. But when he is really tested is when he gets sent out on a job to build a bridge where there could be soil subsidence, a site in an earthquake zone, and so on. He is going to have to learn very quickly and develop real-world skills to solve the problems and get that bridge built so that it is safe and sound. He will have some basic knowledge to start with, but out on the site, faced with the real thing, it is not quite the same as sitting in the comfort of a lecture room in a university.
I like to use the analogy of the time I learned to drive a car. I went to a driving school and had many lessons. The instructor and I would go out once a week, and I would learn various things like reversing, turning, braking, starting on a hill, etc. Then the day came for me to take my formal test, and at the end, I was given a license to drive a car. But the reality is, I never learned to drive that car properly until I was driving regularly in all types of traffic conditions, in all weather conditions, and on different roads. It was then I had to learn how to use my judgment to make decisions based on the conditions.
The real learning ONLY comes after the formal learning.