Experience and education are both important. One without the other is of little use.
Yes, but I often have found that "the scool of hard knocks" has given a better education than any university.

Do not read this as me knocking education, just the fact that, for someone with decades of experience, it is totally irrelevant where the knowledge originated since the original knowledge will be outdated.

Take me as an example, I got a lot of knowledge about vacuum tubes (for you Ian, Valves) from my education - OOPS, I just dated myself - I actually think that has little significance in my capability to create a microcontroller based product.

On another line, I never got any formal education in programming, I learned all that in "the scool of hard knocks" (OK, I took an extension course in C long ago) so, were I to apply for a job where programming was involved, my formal education would be worth nothing.

So I will state that someone with Phd certificate in electronics from decades ago equally wel may or may not be able to make quality microcontroller products today.

In a sentence: the emphasis on where and how someone graduated is totally ridiculous for seasoned individuals

Erik