I'd go a step farther and say software engineering as a field is not respected at the same levels as such certified/credentialed engineers, because of these lacks of standards and liabilities. Leading to common occurrences of systemic destructive failures such as this, due to organization level direction being very lax in dealing with software failure potential.
I don't know, I get paid more than most of my licensed engineer friends. That's the only respect that really matters to me. Not saying there might not be other advantages to a professional organization for software.
I feel the same way but do agree there’s a general lack of respect for the field relative to other professions. Here’s another thread on the subject https://news.ycombinator.com/item?id=23676651