Whoops! "You have to have a degree to do research" (Note: not even a "relevent degree", just a "degree")
There goes any semblance of credibility. A degree - particularly a higher degree - demonstrates an individual's ability to produce the verbiage that the university demands - by any means. Any unique or original learning is a bonus, and is certainly not required.
Financial means (on the part of the student) plays a pretty big part too.
So: Rich is smart, and Obsequiously compliant is even smarter.
Add the two characteristics, and... a DEGREE! Whoo-hoo!
Now I can go and do some research.
(Don't get me started on the Piled Higher and Deeper qualification.)
...but he couldn't do research unless he obtained a degree first.
-- Jeff