My take as an HR consultant and a person who is involved in hiring a lot, I’ll generalize like this:

In areas where the result is more important than the process, i don’t think a degree matters much, because you can easily demonstrate what you created.

But in engineering/medicine etc. for example, the process is critical maybe more so than the result. So you need to demonstrate that you have a solid understanding of the process and how it all connects to the result. Sometimes even you need to be approved to even practice.

Degrees could help recruiters find you in a talent pool. So a company might have found success for hiring staff from say MIT, so a degree from there, would include someone in their talent pool.