It’s always possible to end up doing something in engineering that doesn’t require the degree, but usually you need the degree to at least be considered for the job. And I still think that there are a lot of cases where you really do need the education. I obviously don’t use all the stuff I learned, but a lot of what I do I couldn’t do if I didn’t have the courses. And it’s not really stuff that you just learn on the job. You’re not going to just “pick up on” stress analysis, mechanics, or dynamics unless you work with someone who really has a lot of time to mentor, which is almost nonexistent in today’s engineering environment.
:off of soap box:
Of course learning on the job and knowing people doesn’t hurt either!