Well the trouble is of course that there isnt a blanket statement we can make thats definitely "right".
It largely comes down to experience, the above is your experiences and you have (quite rightly) formed your opinions from those experiences. I , the other hand , have had almost the opposite experience.
For example, right now I have a work colleague who is consistently (and I mean virtually weekly) banging on about how he should be earning more money, having pay rises etc, because he has a degree. Trouble is that he is absolutely useless at his job, yes he has an IT related degree, but just as with your example he is simply unable to work things out for himself. Worse than that, even after repeatedly being shown what to do he continually forgets how to do it and is even unable to follow documentation that he himself wrote !
Meanwhile, another colleague who left school at 16 (no A levels or degree), and has been in the job now for 4 years is extremely adept at his job, picks up new ideas, methods and concepts very well indeed and should he decide to continue in this career will , I have no doubt, progress very far indeed.
So it largely depends upon experiences and of course those will be different from person to person. I certainly agree with some people that quite often a degree isnt needed, though it can be a help...in the right person. Clearly the individual I mentioned above though simply thinks that because he has a degree he should get more than his peers who dont.
(EDIT : I forgot, it wasnt fair to mention that the other colleague has been in the job for 4 years without specifying the time that the first individual has been in the job for. The two of them started 1 week apart, (the non-degree person started 1 week earlier than the guy with the degree), so 4 years for both of them.)
To be honest i find a lot of people who do I.T Degrees are people who could not do Computer Science or Computer Engineering degrees. It's often the case at our university, can't work out how a red-black tree balances? You get recommended to take a I.T degree.