It's the same with other Professions (Lawyers, Doctors, Accountants, Engineers etc) - there is an initial body of underpinning knowledge & understanding (UK&U) to be mastered, and then one has to gain sufficient experience to show evidence that you can apply that K&U to real situations. Then there are management elements - people management, task management and financial management to a greater of lesser degree. And then in all the professions there is a need for continuous learning to maintain currency. An finally there are codes of conduct, ethics etc.
I have no problem at all recognising an unfrozen ATPL as a Profession - it would actually be a pretty smart idea to establish an Institute with a Charter and get that set up. But while for some Professions the UK&U is best acquired and demonstrated through university degrees for other professions it isn't necessarily so. To be a doctor or vet (I think) you require the appropriate degrees, but to be a lawyer or accountant you don't - they have professional exams as an option. To be a Professional Engineer you have to show UK&U equivilent to the level of a relevant masters degree supported by a relevant honours degree (for C.Eng - for I.Eng you don't need the masters), but having the actual degrees isn't mandatory if you can show the same level achieved by other means (and indeed that's how the majority of Chartered Engineers did it).
Anyway, the point is this - by all means go for Professional Pilot becoming recognised along side the other professions. I'd support that whole-heartedly. But don't make the mistake of assuming that because it's a Profession the associated basic UK&U must be equivalent to a degree, because it just isn't - neither in depth nor scope of study. Just as it isn't for Chartered Accountants.