It's true that a degree means you have a lot more knowledge
I would beg to differ. A degree just confirms that in a well-defined manner. Knowledge can be acquired in any number of ways, formal education is but one of those. Now, one can argue that degrees tend to involve more theory and mathematics than you would normally learn, but a healthy interest in machine linguistics, algorithmics, and formal logic can achieve quite a lot without spending money and time on a degree that - as you correctly note - ultimately holds little weight.
Personally, I do consider degrees in hiring decisions, but I do not expect knowledge or even hard skills based on them. I expect dedication and a certain mode of thinking - both of which are well-suited for studies. If you got a degree, you likely fit into a certain mold that can be useful for me. I will gauge your actual knowledge and skill independently of that, though, and I don't even want every hiree to be a graduate. Creative engineering is the game.
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I would beg to differ. A degree just confirms that in a well-defined manner. Knowledge can be acquired in any number of ways, formal education is but one of those. Now, one can argue that degrees tend to involve more theory and mathematics than you would normally learn, but a healthy interest in machine linguistics, algorithmics, and formal logic can achieve quite a lot without spending money and time on a degree that - as you correctly note - ultimately holds little weight.
Personally, I do consider degrees in hiring decisions, but I do not expect knowledge or even hard skills based on them. I expect dedication and a certain mode of thinking - both of which are well-suited for studies. If you got a degree, you likely fit into a certain mold that can be useful for me. I will gauge your actual knowledge and skill independently of that, though, and I don't even want every hiree to be a graduate. Creative engineering is the game.