I just realized that the title is misleading. It should have been "Getting knowledge worth a CS degree without going to school - An unusual challenge". I have changed the title in the blog, but cannot change it here. Sorry for the confusion.
Yes, except it's not really a CS (or any other) degree at all. The video is about using the MIT video lectures to learn the equivalent of 4 years of CS education - without any earning any degree.
You are right, a person does not earn an official degree. But it is still possible to establish credentials to find employment, or use the knowledge to create your own startup.
You're absolutely right, and it's a useful thing to do - but it's not about actually getting a degree. The headline is misleading.
You are right. The title is indeed misleading. I did not realize it.