Team work, communication, planning and organisation skills can be picked up in real life environments too, if anything in a better fashion.
When you enter employment at a young age, your employer and your colleagues are more willing to show you the ropes and give you time to learn on the job, considering you usually start at a low position. Then you proceed to learn real world experience for a number of years, depending on how quickly you dropped out of education, and how quickly you landed a job.
I had been working as a developer for 5 years by the time my friends of the same age finished their degrees. Put that into perspective and compare to people fresh out of university.
I'm not saying people with a degree have wasted their time, or that it wasn't the right thing to do. Just give those of us who chose a different path some credit too.
As far as my options go, I'm now self employed and loving it.
I knew a fellow who didn't go to university and was managing a team of 12 developers within his first five years of work. He was richer than the average graduate too.
And one more thing - the plural of degree is degrees not degree's. I learned that in school.