Hardly. The only people who care about your GitHub are technical people. Most of the gatekeepers at any decent size company are not going to care one bit about GitHub, but they will recognize the degree. By the time you get to the hiring manager the degree doesn't matter. It's getting to that level that's the obstacle.

And frankly, when you have more experience, GitHub is also useless, because your network matters 1000x more than your portfolio.