That may apply in most cases. However, a degree is now acting as a barrier for entry to jobs people are fully qualified for.
I have seen government contractors hired with a BS in Art History and a CCNA over candidates with HS diploma and a CCNP. It's happening more and more to those of us who just want to ride routers all day. We know the job and lack of a degree should be seen as a good thing. We aren't looking to replace our bosses. We don't want to become managers or team leads or any of that crap. We just want to sit in darkness and work on network stability and optimization.
I'm sure you can find the same thing in CS. People who know how to code, but lack a degree for whatever reason. You'll pass over a candidate who's been programming since age 8 and select a candidate who first heard of programming in his Intro to Computers class.