In the same way that degrees have been dumbed down to the point where one poster's assertion that his ex-sister-in-law gained a 2-1 (whatever that means) with ease, yet being unable to articulate, the ATPL has also been dumbed down to multichoice, easy to pass levels. So, they both have been dumbed down & should be equally recognised.
Actually, sorry to say this, but way back when GCE 'O' levels were quite hard, and 'A' levels were very hard, the UK ATPL was extremely hard because it required passes in at least 9 subjects, all hand-written with pass marks, on average, of 65%. Couple I can think of, like plotting & Met Practical, requited 80% just to pass. Let's say, 9 'A' levels, all at grade A to get you your ATPL writtens. Just to get into Uni (to use modern parlance), you needed just two 'A' levels with decent grades. My E grade pass in Economics and E grade pass in British Constitution failed to get me into Oxford but gained me a place (Law) at Bristol.
The 'old' UK ATPL that we baby-boomers gained after PPL, CPL, Senior Commercial and, consequently, around 1000hrs commercial experience & eight weeks of hell at Sir John Cass College was definitely worth degree status.
Once it is all sorted, can someone tell me where I can pick mine up ? Just to hang on the wall where I, and I alone, can really admire my endeavours. Cheers.