Or, another possibility is that the degree only serves as a "necessary but not sufficient" marker. It increases the probability that you know your stuff, but only the first couple of jobs confirm that you learned anything. In which case yeah, selling your degree back to them would be bad.
Unfortunately it is hard to just come out with an 'apprenticeship or internship' only type program today. You do still have people that want to see that nice piece of paper at first.