Isn't that the case everywhere, where once you have a big name on your resume you're good to go and set?
Also isn't a contractor position less than ideal, since you can't actually explicitly say that you worked at Epic on your resume and have to instead put something like "worked at an American video game and software developer and publisher based in Cary, North Carolina". Since you likely work for a contracting company and not Epic themselves.
Kind of, but the point is that it's extremely hard in game dev to put a big name on your resume. Depending on the case, as long as you weren't a complete slacker during your studies, there is ample opportunity to get a good entry level job based on academic qualifications alone.
Entry level jobs are treated as entry level jobs. Not so in the games industry, where moving at neck-breaking speeds is the norm. That's where the difference lies.
You are right that being a contractor is less than ideal; I don't get paid vacation, sick leave, or benefits in general. I do get paid very well though, far better than most people in Germany.
As for credit, nah, I'm contracted to Epic directly, as an individual. Also, I might be wrong here, I don't think anyone would care about that. If you spent a good chunk of time working directly in a company, within the company's team, saying you worked there seems adequate. I'm as much a part of the team as anybody else, including taking on responsibility.
Now, I bet there are predatory contracts at some game companies that would deny you taking credit. Can't say how common that is. Not here though. I'm allowed to even put WIP work on Unreal Engine 5 on my website for resumé purposes, but I bet it also has to do with the fact that I'm doing tools, not games.