it may open up opportunities for job interviews, but it will never get you past the first round (unless maybe for extreme junior positions where no knowledge is expected).

so how would one get into software development in this beautiful catch 22 situation ?

by starting at the bottom and working your way up rather than (like many people...) thinking you can get hired into a senior position with no experience whatsoever.

i took your comment to mean that a person who is degree educated would not be employed, even as a junior developer. Bar in an extreme junior position as you say.

I wasnt referring to a senior position, obviously a degree education would not automatically make someone eligable for that role.