Thoose that have already done a degree and have done the ATPL theory will say no. Which I am one of.
Those that haven't will try and justify that it is.
You never hear of the Nautical lot banging on about what there qualifications are. They have way more technical training compared to what we do. They are just proud of the skill set that they have.
A degree is just like cpl/ir ATPL theory passed it is a ticket to allow you to start a profession. Its a ticket to learn a set of professional skills. 1 day after you start your first job it means next to nothing in the grand scale of things. You are only as good as your last job.