Althought there are lots of benefits to the self-taught route, there are some caveats which students should be aware of. You will have to work harder on the "signaling" and networking. There are definitely social benefits in being associated with a university. And a lack of degree will mean you're "marked"[2], which you'll have to overcome. A setback or mistake will be attributed to your lack of degree, whether justified or not. And some hiring managers can't take the political risk of hiring a non-degreed candidate. Not insurmountable, but this means we work on it from day one. If you do decide to self-direct your education, the benefits are that you learn faster and don't waste time spining the hamster wheel, so to speak, to grind out courses. Everything you learn is in context and relevant. If you realize you miss some fundamentals, you'll just go back and learn those concepts/topics. It's a different way of learning, which imo, is inevitable for technical professions. But it's not for everyone, and some students just vibe with it more.
What's sad is that many students are sort of forced into the self-taught route, because they don't have the financial resources to go to college/university. And if they're not aware of the trade-offs, they could really struggle.
[1] https://www.divepod.to [2] https://en.wikipedia.org/wiki/Markedness