Now a days, it's very much true. I've worked for FAANG companies, a number of mid-major sized tech/internet companies, have had a engineering job for 20+ years, been a CTO and co-founded a VC backed company. All without any degree, in fact in the 20+ years in the field I've never once been out of work. Early in my career I was rejected a couple of times for lack of degree but I can't even remember the last time I was asked about a degree. I know a number of other long term successful non-degree engineers also. So unless you have solid data to back that up, I'd agree strongly for it not being bullshit. The only tech field that I can see that argument for is higher level Data Scientists and that's clearly becoming less and less of a requirement also.