The UK must be fairly unique in this regard, because in North America companies are just happy to hire anyone who can open a text editor for programming jobs. Not even Google, who once was quite vocal about hiring only graduates of top universities, can concern themselves about your education anymore. There are just not enough people to even start to be choosy.

Since I am not familiar with the employment landscape in the UK, I am going to have to take your word for the satiation there. However, since this article is US-based, I do not feel that your picture paints the employment situation in the US in the proper light. Formal education does not have that kind of relevance on the western side of the pond.