I dont think degrees are given more importance than experience. Degrees only serve as an entry into the required field, after that its all your hardwork, your knowledge and skills that counts. Degrees does matter to certain extent, but is not given more importance than experience. You can say both are incomplete without the other. Degree does'nt value much if u dont have any experience (just used as a way to enter into the required field here). Also, experience is not of much value if you dont have a degree (this refers to the knowledge you gain in getting the degree). So both the things need to be there, not just one.
So, i dont think degrees are valued more importance than experience. Even if u had a degree from not a good institute..and u have to ability to do things what the employer wants you to do. I don't find any reason why he should not hire you.