I got a bit of that towards the end of a contract I flew over in Italy. I couldn't quote the book formulas but I nailed every single arc transition, waypoint transition onto the ILS, etc, and greased every landing, including the gusting to 40 kt winds they wanted to divert for (it was only 15 degrees across the runway for crying out loud).
Yes, you need book knowledge as well, but I agree that most pilots outside the U.S. are SOOO focused on the books and avionics that they forget what it means to just fly the airplane.
I suggested to the Ryan Air crew that scared me so badly on the crosswind approach in Rome that they should hand-fly the airplane down the approach (it was VMC) to get a feel for what the wind was doing, rather than waiting until 100 feet to disconnect the autopilot and suddenly have to start fighting for it just prior to the flare (I was in the 2nd row and could hear the cavalry charge disconnect tone on each approach). They looked at me like I had lost my mind and said "That's not our procedure." I answered "Well, what do I know, I've only been doing this for 20 years with almost 10,000 hours..." I'd call them idiots but I just don't think they know any better.
My money is simply that the system is SO structured and the Airbus and advanced Boeings have SUCH a low failure rate of the avionics suite that the automation takes the brunt of the problem when they DO have an abnormal or an emergency.
Honestly, after flying at Pinnacle for 5 years, I can absolutely tell you that the only thing that's kept MORE accidents from happening is the reliance on the automation, dedication to procedures, and sheer, dumb luck. You'll notice that most of the accidents have happened when either the automation was disconnected, overridden, or there wasn't a high enough level of automation (autothrottles) to keep the airplane flying when the flight crew did something stupid. In Europe, they've made things SO automated and are SUCH sticklers for procedure (autopilot on at 600 feet after takeoff, off 100 feet before landing, auto lands as often as possible in IMC) that it would likely take a catastrophic avionics failure with crappy weather to start having problems.
Stick skills are almost completely gone, and I also blame it on the Children of the Magenta training methodology. We're the old men, my friend. After our generation is gone, with the exception of military pilots, I don't think there'll be 1 pilot left in 50 who could fly a 20-series Lear or a 727 or even a Pitts if you threw them in one.