That's the funny thing about licensing.
I guess I should have been more specific with my use of "Industry". I've spent a few years in the Aerospace Industry, The Commercial Utility Vehicle Industry, and the Automotive Industry.
When I was in undergraduate, many of our professors in MMET were pushing us to study for and take the FE Exam and to prepare to get our PE licenses.
When I did my first internship, I asked around the company (private sector) if it would be beneficial to get my PE license and if so what steps could I expect to take, who would be my mentor, etc. I was told that there were only a handful of people at the company (that employs hundreds of engineers) who would even be qualified to be a supervising PE and that it would be unlikely that I would work directly under them.
I understand it's important especially in the Civil sector to get one's PE license, but in the Aerospace industry I currently work in it's all but unheard of. FWIW I work for a Fortune 500 company, so it's not like my anecdote is from a small-time employer who just doesn't want to play by the rules or anything like that. Every Engineer I've worked with has basically stated that PEs aren't necessary in the private sector outside of Civil/Architectural Engineering. In my head, I've always divided Engineering into those two sectors I guess - Public and Private.
As far as getting into design, I guess it just depends on what kind of design you're referring to. I suppose an ME degree might be more helpful for someone who spends a lot of time designing pump stations, engine turbines, and the like, but the ones I've worked with in my industry have tried telling me it wouldn't be an issue to weld their aluminum part to a steel structure, that they don't see why it should be a problem to have two unlike metals touching in a marine environment (they couldn't even spell galvanic), and that they didn't understand why it would be so much more expensive to machine their design rather than build it out of sheet metal. (These are all conversations with A&M ME Grads, by the way).
I agree that it's incredibly unfair to expect a freshman to decide what 'industry' they want to spend the rest of their career in. Heck, I didn't even have a clue what I wanted to do until the summer after my Junior year. I was fortunate that I chose a degree that didn't pigeonhole me into having to stick with a specific job type. My point in my initial post was just to say that your degree doesn't necessarily define your job prospects.
I have MEs, AEs, and EEs on my team. We all do similar work. I respect the heck out of my EE counterparts because my brain does not work in the way theirs does. But they can't do what I can and that's okay - we all work on some pretty cool stuff and can contribute to the goal.