It’s also stating the obvious to some extent. Extrapolating “master’s” to “PhD”: a company designing and selling hardware verification software would be better off hiring someone with an algorithms PhD to work on their SAT solver. Plenty of self-taught folk are better programmers, but experience parsing the academic literature defining cutting edge SAT techniques is valuable here. This isn’t even really an “R&D” role in which the research experience is necessary. If you care about ad hominem aspects of the discussion, I identify as a code monkey.

Boohoo