If my memory servers me correctly, an ATPL with a certain amount of command hours is classified as a "RVQ-13" by the state. RVQ13 is an equivalency rating of matric plus 3 years formal education, and is used by the government to compare tertiary education between Varsities, Technicons on Industry specific certifications. A degree is RVQ13, as is a Tech diploma, certain on the job training programs, and lots of IT international certifications.
So, at least in the Govenments eyes, an Airline Capt has a degree equivalent education