I would hope that a below average 1500hr pilot has a lot more ability than a below average 250hr pilot. At 250hrs you are like wet paint on a wall, and are generally clinging on for bare life against the forces of gravity. At 1500hrs that paint has hopefully had a few fresh coats and set. The paying passengers have a right to feel safe in there seats. Reducing the skill level of new pilots because of the increased reliability of aircraft and the ever increasing push for profits from airlines is not acceptable. There are many many 250 hr pilots out there who would be in a whole world of trouble if the old git in the LHS decided to expire one day.
You dont need a degree to fly an aircraft, you require a specific skill set that isn’t necessarily met by a degree.