There are very few career mistakes that hurt you permanently, if you make an effort to recover from them. Usually, the way it works is that a low-quality degree shunts you into a low-quality initial job, which then makes you lower your expectation about what you can achieve, which prevents you from going for better opportunities as they arise. This cycle is very much breakable, it just requires that you do something unexpected.

Basically, if your degree sucks, it will force the hiring manager to look much more closely at your other accomplishments. If you have none, you're screwed. If you have a track record of shipping products that other people want to use, nobody is going to care about your degree.