I actually agree with you that all other things being equal, it would be better to do a CS degree in the US - if Georgia tech did an undergrad CS degree for $8000, that would probably be a slightly better option. But they don’t, so paying $20000 which is the cheapest online CS bachelors degree I found in the US is not worth it vs the University of London for $8000 total (around $2700 per year for 3 years)
It’s also hard to argue that would be a major issue for someone who got their first software developer job without any degree at all :) So the real issue is can you get that first job without a computing degree? I certainly think you can, and for most people, the extra time and cost of a degree, and opportunity cost (ie not earning a paycheck) is not worth it - if you live in the Bay Area. I’m sure it would be much harder, but not impossible to get that first job elsewhere in the US or in the UK without a degree.