I hire people where i work amd when i do i dont look at what school or what grades i look at all the other things. For me getting a degree shows me interest amd enough drive to finish or accomplish something. Its all the other work related things i use as a basis of how they apply that. And secomd did they move up, that shows a willingness to do whats needed by that employer to move up in rank. So its not one or the other its a combo of both. Dont focus on grades though its overrated.
Some people are so interested in getting much qualification so that they can get better job or to get promoted quick in their place of work, but if you should look into the other aspect of it they are not good in the main skill. If we should consider only grade and qualification it is possible we make mistakes and go into wrong hands that won't bring good quality in the job giving to them. Their are some dull people I'm school, it is not everyone who attends school is smart and their are some people who don't have the opportunity to be in school but sound, if considering only qualifications it is possible to accept someone who is dull and who is a graduate over someone who knows the job better bit do not have any qualifications for the job.