At the very least, the man with the digital photography degree knows what makes a really good picture - how to fiddle with composition and lighting and stuff to make the sort of picture that makes the viewer go 'wow'. Given a little bit of time to learn how to use Photoshop, or the GIMP, or other similar tools, and the man with the degree will be able to do at least the same as he could do before, but substantially faster.
While anyone with a knock-off copy of Photoshop might be able to do the same technical tricks, he probably won't know which technical tricks to use to best improve a given photograph; and he might very well end up making it look a good deal worse.
"My digital photography degree from an era of obsolescent technology isn't rendered completely useless through the passage of time" is a far cry from "I can divert the course of rivers".
Another month, another rationality quotes thread. The rules are: