What I mean is that even smart people without degrees are looked down upon. You could work your way up through a company for 20 years, work in and master every department, make connections with all the right people, know all of the ins and outs of how the place runs, and when you go to apply for that middle management project leader spot, you'll be passed over by the guy out of school with a degree.
My dad was in a special high-potential group mentorship program at MS with a bunch of other people. They started off the first session with little 5 min bios of themselves. My dad was second to last, and as the circle wore on he kept getting more and more self-conscious. Every person had a Masters or PhD, sometimes multiple.
Well, two people before my dad, the person described their three Masters and two PhDs, and then chose to go off on a rant about how self-eduated people just truly don't get it, don't have the same skills, can never equal the expertise and excellence of people with hired education, etc. Pretty much that they aren't worth as much.
See, my dad is one quarter short of his Bachelors in CS (circa 198x). He's a brilliant guy, huge reader and entrepreneurial to boot. He's just always been busy with his businesses and family and never wound up the degree.
He had about five minutes to prepare his thoughts while the next person talked. When his turn came he started off by acknowledging the honorable snoot and respectfully disagreeing with them, and then spent his turn explaining his own path to education and skills-acquisition, and also how he's applied that in raising his kids (we were mostly homeschooled) and how that's really worked out for us (early graduation from college with honors, pretty cool jobs, relatively fast career trajectory, etc.) and how he feels that different types of backgrounds and thinking can be beneficial to a big company like MS.
Interesting stuff.