In my business, the only positions that I look for a bachelor degree in are those which are administrative/maintenance positions (ones where I don't want a lot of critical thinking or rocking of the boat). People who have bachelor degrees, as a whole, tend to be more willing to jump through bullshit hoops in order to meet cultural/social expectations. They are easier to manage and tend to cause less "problems".

Conersely, I hire people more like myself when I need people who will take risks, challenge the status quo or promote growth/change.

Naturally, companies never hire people like me if they want stability.

Microsoft has a similar hiring ethic. Microsoft's reward (and requirement) for degrees has been directly related to their need for stabilization.