Yeah, at least for me that's true. I adhere to hierachy at work, but I can't stand hierachies. This can cause events at jobs that are frustrating to me.
Elon Musk has the same pov to this.
Degrees is an attempt or a way to solve the problem that esp. in bigger companies people has to hire people for work but people who hire people (staff manager) can't jugde for themselves if people are qualified for a job they apply for.
In this light a degree is like outsourced conformation that somebody is qualified to do a job, at least from a theoretical pov.
But there are other aspects, like motivation or social skills that thats up to the person who person who hires people to judge.