No, but it has time and again proven that it tells you which is the better engineer. Not necessarily having a CompSci degree, but someone who's made it to senior year or even postgrad is, in my limited experience, an infinitely better engineer than someone who dropped out in freshman year or never attempted.
No, CompSci will not teach you how to code. But it sure does a hell of a lot in teaching you how to design systems and engineer solutions. Of course you also need experience on top of that, but it helps a lot.
Like, things that are completely obvious to somebody with a CompSci degree, might be wholly out of the range of somebody who is self-taught.
But as always, the question is: Is that something you need? Everyone can build you a CRUD app for sharing cat pics. Even a 15 year old high school student who codes on the side can do that. But who are you gonna call when your CRUD app needs to handle a million cat photos a day? Yup, someone with a CompSci degree.
source: being both that 15 year old high school kid and a CompSci person.