Not exactly. It is much more common than it was a couple decades ago for jobs to require a bachelors degree as a minimum. You can argue that the intrinsic educational value of a 4-year-degree has become diluted, but the (unfortunate) reality is that having a degree is a baseline requirement to even get an interview.

That's different than a computer science/engineering degree being devalued to the point where it's no longer more attractive than any other college degree.