That was my experience during the brief times I was employed. I've done a lot of research on the industry over the years as I've futilely tried to get work, and the common thread I've seen is that it's very important that you're a "people person." When reading accounts of others who struggle and ask for advice, one of the first things people do is question their social skills and ask if they ever "sperged out," etc.
At one of programming jobs I got fired at, I remember one of their reasons for firing me was basically because I wasn't extroverted enough ("you don't seem happy to be here"). When you don't laugh at the insipid jokes in meetings and don't have a smile plastered on your face every second you're at work then it's suddenly assumed that you "don't like it here," etc, and that can be used as ammunition to fire you.
Is it the entire industry? From what I've seen, it's widespread, yes. One of the big lies is the "talent shortage" in STEM and that businesses need more CS grads. In reality, the market has been flooded for a long time, at least the past fifteen years. If you posess savant type aptitude with programming and have a degree from a target school like MIT or Caltech, then you'll have a much easier time making it. Unfortunately, I wasn't privileged enough to afford the tuition at those places.
The only other way is to try and be independent, for example I've created and maintained a software project over the years that's supported by donations, but it's nowhere near enough to pay living expenses.