There's a sociological substance to her argument, though.
If you engage in the world of galleries, numbered editions, prestigious assignment for magazines, special orders from special clients, then someone somewhere is always bound to ask you for a BFA or an MFA, simply because they want that "insurance policy" that having a degree theoretically grant.
Galleries want to invest in people who are transparently dedicated to the art world, because they fear one day you might decided that fly fishing is your true calling in life. Knowing that you are tethered to their economic power to make a living because the only thing you have is a BFA, they sleep more confidently at night.
They need to know you're on a leash, and that merely follows from the professionalizing of the "gallery artist" situation.
But I don't think it's a situation that necessarily create the best art, though. Just a more stable art market.