I've had casual conversations with young RJ F/O's on the employee parking lot bus. Twice now I've been informed by these guys that they didn't need a four year degree because the "pilot shortage" is going to make that requirement obsolete. I also heard the same from a young flight instructor not too long ago.
It's a beautiful rationalization folks but reality is very different. The big three have more current and highly qualified apps on file than they could possibly need. I don't think we'll see that change in the near future. In fact I don't think we'll see that change in the next decade. If it does change you'll see the airlines go to a flight academy style hiring model like Lufthansa. When that happens all of the no degree guys will still be sitting on the sidelines rationalizing about why they never got hired.
Want work for the big airlines? GET THE DEGREE.