I don't quite agree with G-HALE. It is true that anyone with the money and enough ability can buy flying training, a type rating and even line training.
Getting a job is a very different matter to getting a licence. In a tight recruitement market you want EVERYTHING going in your favour to set you apart when job hunting. A strong CV, with good grades on the theory, first time passes on the flying test, good MCC report, good employment / education background will all help get you noticed. If any employer has two otherwise identical candidates, one has first class honours in aero engineering, the other has a D in GCSE woodwork followed by a few years on the dole, who do you think will get the job?
Respectable educational qualifications will strengthen your CV and improve your chances in the job market. To suggest that they have no relevance is in my opinion simply wrong.