The thing is that the gap between "is (probably) good at computer science" and "can program our website for us" is so large and diverse... When I was a recruiter the university degree was only important because they had to be a certified engineer (mech e chem e etc), beyond that I still had to make reference calls, the hiring manager still had to check their technical skills etc. When we did hiring interviews for programmers at my current job I didn't even look at the degree. My boss is the API engineer here and he's got a degree in literature. The lead frontend guy doesn't have a degree, he's just been doing it since before JavaScript existed.

Basically, whether or not people filter on degree, or even this cspa thing, they're still going to have to do all the tests they did before. I guess the hope is that they'll have a higher apply-to-hire ratio? But I think that'll only last as long as it takes people to figure out how to specialize to pass this test.