Dad's Army...
...Never heard that moniker for it before, but my impression is that it's spot on...
I remember as a CS student, finding there were some classic papers on real, hard CS problems in BCS journals up until about the mid-70s, but then it seemed to lose its way somehow, and was full of sociological studies of the Cobol programming community; how to draw flow charts, etc.
That's why as a UK resident, I joined the ACM instead.
Mind you, it too seemed to have a bit of an identity crisis in early 2000's when the CACM (the organ which brought you "Communicating Sequential Processes" in the 70s) was now publishing despairing articles about how all the US software jobs were being off-shored and what was needed was to make programming more popular by having fluffy GUIs that allow you to compose objects in your program (yes, up to a point, but there's a reason why people communicate using language rather than drawing pictures for each other...!)
Anyway, CACM seems to be a bit more back on track now...
And this is speaking as a practising industrial software engineer - what we need from professional journals and organisations is a view into latest work in academia that helps us solve the hard problems (concurrency, graph theory as applied to networking, etc, etc) rather than some op-ed fluffiness about "industrial relevance" and that could be gleaned elsewhere...
....end of rant