Indeed, sports and entertainment unions probably aren't a good comparison for tech. Other professions like accounting, medicine, law, and engineering might have better examples of cost/benefit, though it's hard to think of another professional industry with the ridiculous level of functional duplication (a million frameworks for everything) in tech.
There's definitely challenges in not turning it into a protectionist thing, but done well I don't think it's a bad thing.
Mentorship programs that bypass the degree requirement are less common, but I made it through without a degree. I would love to see more of them, and more companies willing to help with work-study, but the challenges of that approach are real and may not have an easy solution.