I agree completely. As a dropout, I've had people bother me asking how they should go about a career in tech, and I will tell them unambigously "for the love of god, please go to school".
Self-studying enough to be competitive with classically-trained people is really hard, and while I've done ok, it's not something I'd recommend for most humans. I like to think I'm fairly competent now, but even after doing this stuff for nearly a decade, I will still occasionally turn up blind spots of fairly-critical information that I never learned about because it was never immediately interesting to me.
Being self-taught is fun, but without credentials you end up having to work at companies that are willing to take chances, and as a result of that these companies have a propensity towards going bankrupt, or being run by scumbags who will run away with all the investor money (true story). I'm not even 100% sure what advice I could give people trying to imitate my career..."Hey kids, repeatedly fail upwards until you accidentally end up working for a company that happens to get acquired by Walmart which will somehow legitimize your experience".