A degree is indeed more necessary in some disciplines/industries than others, and in some job markets rather than others. I'll say, sometimes what matters most is who you know, rather than what you know. Mentors and industry events are great for this. The right friends are two-thirds of the battle (and that alone is a reason some people attend expensive private universities).

And, of course, most tech companies will say that tech should be a meritocracy. Then they'll offer bonuses and incentives for anyone who can get a friend to fill an open role. Consider that.