A degree is training you to think. Not do a pratical skill.
There are parts of it that require you to learn facts.
There are parts which require you to find information and interprate.
The are parts which require you to problem solve and present your arguments to your peers.
Its that last two requirments which the ATPL is lacking. Which is why it will never be a the same as a degree by its self.
And whats a degree minus the last "topup" year. Yep its not a degree at all. Its got you a plane old ATPL theory passed tick in a box.
And that's not even going down the argument about why the goverment decided to give university status to a load of hairdressing and welding colleges.