You're command of logic is impressive

I think one should ask, "What does it take to be successful as a pilot applicant at a Major airline?" AND part two of the question is: "What skill and qualification do I have to fall back if I loose my medical, get furloughed, or simply realize that aviation as a full time job isn't worth it?"

I've got an ME degree that I don't use in the cockpit, but if I can't stand aviation any longer I do have the option that someone without a degree lacks.

I would agree that an AVIATION degree is not worth the paper it's printed on, although that shouldn't sway someone from getting an education.