This vote is utterly nonsense.
Experience is mostly overrated in that respect, that people having the belief, that spending time on something includes a somehow magical component of making you good at something. You could have worked 3 years in a groundhog-day-mode and everybody would look at you with different eyes than if you just did your first groundhog-day in your first job.
Second: Our work as developers is extremely complex. Even if you work with somebody who is 5 years on the job and hasn't had this "groundhog-day" type of work and is really interested in his field and a really good learner - even then there is a good chance that you have requirements the said developer has never worked with in his career.
And yes, you are totally right in questioning the prefix "industry". It adds absolutely nothing: leaving the question "but isn't it better having more experience outside the industry to provide outside of the box thinking and producing better solutions".
That does not help.
Degrees are simply a piece of paper which showed that you are able to solve certain types of problems which people in a institutionalized context confronted you with. The difference of having this degree is, that someone with authority is willing to confirm that. If degrees were that meaningful, we wouldn't need no further assessment during interview processes.
Confronted with this either-or-question, I would leave the room because these are the wrong metrics.
"Degrees" and "experience" are the wrong binary either-or-metrics to base a hiring upon. Regarding "industry experience": any situation which made you improving yourself is worth called experience and could positively influence your work.
When I read this I was reminded of the time I tried to master AngularJS. I invested a lot of time learning it through projects and all. Right when I felt so comfortable so much that I disregarded the existence of other frameworks google announced that they're discontinuing its support. I knew about directives, controllers and services but nothing about components.
Later when I picked up on Vue, I had an idea of concepts used by Angular, Vue and React. And also that frameworks come and go
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