A Degree is proof of endeavour, time spent in academic rigour, it is not someting to be denigrated.
No matter what the discipline, the effort and time invested in the study is well spent.
Anyone can carp on about "experience" and "time logged" all of which is no doubt a benefit to the individual.
But there is no way the endeavour of academic rigour can be sold short in the face of a purely experiential learining system.
Academe will win every time, it takes discipline and rigour.