Thanks for bringing this article to our attention, Steve.
Among other good points, I think that the article hit one of the major challenges of IT; the 'moving target' of technology. A general 'instinct' for the machines is certainly valuable. A good instinct coupled with passion will make the difference between a worker who is good today and dated tomorrow. If the instinct and passion are joined with the ability to discern business needs, then get out the checkbook because someone with these qualities is worth a lot.
Can you measure these qualities completely with a piece of paper, whether a degree or a certification? No, of course not. On the other hand, instinct is difficult to measure objectively without a long standing personal relationship. People with any of the above qualities tend to set high goals for themselves and that often includes pieces of paper. A person without paper had better have some good (and current) references to show that they have a track record of acheivement.
I like the statement in the article that better managers are leaning towards developing talent internally, because that's a good way to develop the long-standing relationships needed to measure personal quality.
“Politicians are like diapers. They both need changing regularly and for the same reason.”