This study critically analyzed skill identification processes in Uganda's Competency-Based Curriculum to determine whether the reform genuinely bridged gaps between education and labor market demands or merely built impressive structures on unstable conceptual foundations. Employing a convergent parallel mixed-methods design, the study surveyed 385 stakeholders including teachers, employers, curriculum developers, and education officials, conducted 24 key informant interviews, facilitated four focus group discussions, and analyzed curriculum documents. The research examined three core objectives: methodologies and stakeholder engagement in skill identification, alignment between identified skills and socio-economic demands, and clarity and implementability of skills. Results revealed systematic weaknesses across all dimensions. Stakeholder perceptions of skill identification methodologies were significantly below neutral (M=2.69), with one-way ANOVA showing significant differences between curriculum developers' favorable ratings and teachers' and employers' substantial dissatisfaction (p