In the end, I do think that degrees matter less than what people think and that it's completely possible to have a good career without the school name or university name having much of an influence (obviously it's anecdotical and probably depends on the field). I do strongly believe that being saddled with lifelong student loans is probably more detrimental than the positive aspects of a degree in most cases (maybe with the exception of lawyers but the only those who can cope with the lifestyle)
As an example, in a previous job, I noted that the new French software engineer had come from INRIA and was a graduate of a Grand ecole. The fact that this resource went on to demonstrate well above average work and domain abilities was not a surprise to me.
So note that some of us do pay attention even if it is not mentioned during recruitment.
But if you're not going for that threshold, you'll likely not run into issues. And if you're in niche-careers, it's probably true as well.