I think two factors are at work here. Because of the availability of overseas coders, native coders are being expected to meet higher standards. I also think that CYA principles are being applied by HR personnel and managers, i.e. bureaucrats. If they can point to a degree, they can't be faulted. It is rarer and rarer that a boss is a programmer.

That said, I have never had a problem getting a job in either EE or CS-related fields in spite of the fact that my academic career stopped with a BA in Sociology from a mid-range state university. I have been denied the chance a number of times, so degree-consciousness IS a factor at many companies. What I am ranting about is that it should never be a reason not to be proud of one's abilities or to try for a position. IMNSHO, the companies that have hired me have been far better off for doing so, and, yes, I have taken jobs away from degreed programmers several times.