You have a very narrow view as to what makes a great employee. As for your last statement, I highly doubt companies such Apple, Google and Disney are only looking for the A students.
Don't know about that field, but do know that companies such as Ball Aerospace, when hiring new engineers, will not look at resumes of new college grads with GPA's under 3.5. Many of the Petroleum companies have even higher standards. (2013 ChemE kid with heavy Petroleum focus who was applying for jobs at Biotech and Petroleum companies.)
99% of the companies required a 3.5 - 3.8 minimum GPA.
Average starting salary for a Petroleum Engineer is well into the 90-100,000 per year. The C students are not going to get those jobs. Which I believe was the original question of the OP. Will a "C" average get a good job? Usually not in the engineering field.
Also, having watched an engineer in college for the past 4 years, there was no regurgitating of information on tests. In fact, one of the major stressors of the students (I heard the gripe sessions while study groups were at our house) was that the problems on the tests usually covered material not taught. To get an A on those tests, they needed to be able to apply learned concepts to a completely different situation. Only those who completely understood the concepts and could think outside the box were the ones who got A's.
The ones who only memorized and regurgitated were the ones who got the C's or worse because they did not understand the why or how, only knew the memorized formulas and how to apply them to the examples in class. They could not take the information and manipulate it to solve other problems.
