It's worse than that. It's not about education anymore but pure credentialism. Did you study at MIT, Harvard or Yale? Did you work at FAANG? No? Then surely you must be an idiot.

Nevermind all these difficult projects you worked on. Nevermind that your ex colleagues gave you glowing references. Nevermind all your open source projects. Nevermind that the project you led and worked on has never been hacked in 3 years in spite of having hundreds of millions of dollars at stake. It's all worthless because I don't see any fancy branding in your resume.