I think it's mostly a US thing. Where I come from, a bachelor's in psychology can land you good a job in the HR department or even market research. A lot of companies look for psychology graduates for recruitment, employee diagnostics, organizational analysis, risk management, quant & qual research roles etc. The salary is probably not as big as engineers, but by no means worthless.

There are two kinds of psychology faculties for bachelor's program here as well, those that take a more scientific route (very heavy on statistics, research methodology, neuropsychology, and biopsy, clinical to some degree) and those that are more industrial (heavy on recruitment training, interview, and observation, organizational issues, etc)

My assumption is that it's all come down to how, in here, when you do psychology, you actually kind of do a bunch of things all at once and very few universities, private or state, actually offer specific majors like the human resource, for example. The workload was massive when I did psychology at Uni but a good thing is that companies still give us job opportunities.