Dean at M.I.T. Lied

Marilee Jones, Dean of Admissions at M.I.T., just resigned after a long career, and upon her resignation, admitted that she completely made up her academic credentials. Wow. She didn't even have a Bachelor's degree. Which makes me wonder what good a degree actually is - did she do a worse job in her position due to the fact that she didn't have a degree? It doesn't sound like it. It is wrong that she lied, but she put in the hard work and moved her way up the ranks and I doubt that anyone affected by her during her career could say that the fact taht she wasn't formally educated had a detriment on their outcome. So is a degree really that important?