I think the value of a college degree as a screening procedure is in fact dropping. The potential value of college education is still high, but the piece of paper doesn't really give any insight into what value the student took. All it shows is that the student payed the fee (and probably is in debt) and put in his/her time.
It is. But because it's not enshrined in law it'll be enforced by the market.
What skills do you really mean to ask for? If you waste time asking for things you think imply those skills other people will be out-recruiting you.
Do you believe that requiring/favoring people with college is also a bad precedent that needs to be stamped out?