You're pretty much fucked for the rest of your life.

Come on now, it's not that bad. I'm about the age you're describing and the people I know have made out alright for the most part. I know that's an anecdote and worth absolutely nothing in the grand scheme of things, but my point is that a few years of floundering won't sink you. No one is 100% efficient...people switch careers, take breaks for kids, try their hand at entrepreneurship, etc. If what you're saying is true, you'd have to have it all figured out at 18 and take no deviations from the path you've set for yourself, otherwise you're 'fucked for life'. I know it's not easy out there, but it's not that bad.

That said, it is true that many people have trouble finding quality experience. Sadly, the internships that used to give you a leg up either don't pay anymore or they expect long hours. Neither of which is feasible for people still in school, so they just end up working a job unrelated to their field. And no, that doesn't throw you in the rubbish pile, but it obviously isn't ideal.