Like many people in the IT industry I have studied Computer Science. And you know, I am not so sure that I am always in good company. Let me explain.
What do we have to do to graduate in Computer Science? Pass exams on paper. Does that really prove anything? Some of us are not walking programming language syntax manuals, so we lose marks. Then there is coursework: it can all be downloaded from the Internet. There is nothing one would have to do for coursework that could not be easily found.
Finally there is the fact that some of the worst people I have ever met in our business had degrees in computing, and some of the best only had a few GCEs (exams we all take at age 16 in the UK).
Personally I think that a degree in Computer Science proves that someone can persevere at something and is intelligent. But it does not mean that they will be outstandingly good at IT.