Do Editors Edit Anymore?

Today there are so many ways to publish it can be confusing.               Although traditional publishing continues to be the standard that confirms your writing is considered good, more people are choosing self-publishing because they don't want to wait to see their work in print.  Does that mean their writing isn't as good?  Some would argue that this is exactly what it means.  Yet, as an avid reader, who enjoys novels, most of which have been traditionally published, I'm amazed at the grammatical errors, format problems, and general lack of editing that I see in these books.  It's not as if an editor failed to look at the manuscript.  The acknowledgments that the author makes usually profusely thank their editor, their critique group, their relatives who offered their "honest" opinion, and on and on.  So how did these simple things get missed?  And why is the author thanking people for a job they didn't do well?  We're certainly responsible for our own writing, and for turning in a manuscript as polished and professional as possible.  Once that's done we count on those we hire to catch the things our eyes missed and tighten our manuscript.  I hear that traditional publishers have become much more critical as to what they'll accept these days.  I wish their editors were critical as well.