Like many others here, I too have degree in computer science, and I will say this much. Not all degrees are created equally. Did I learn a lot? Absolutely. Could I have learned it all on my own? No. Could others learn it all on their own? Absolutely.

That being said, I didn't go to some fancy university -- just a small unheard-of state school of no notoriety. I think I benefited more from the learning environment and structure than from the actual instruction I received. Maybe I would have had better feeling about my degree had I attended a prestigious university, but honestly, most of what I learned was quite surface-level knowledge that came straight from the textbooks anyway.

I feel no superiority over those without a degree. In fact, quite the opposite. I feel a bit of shame that I do not know as much as I probably should despite having a degree.

Fundamentally, I agree with you. A piece of paper doesn't mean much. Based on the interview questions that are commonly asked, it seems like our industry doesn't find degrees that meaningful either.