Paper qualification VS experiences

In my opinion, paper qualification is not important now. But the important now is knowledge plus experience. World is heading by knowledge and experience now. High school, college, professional or vocational education, bachelor's or master's degree - you are expected to have at least one diploma of mentioned. The less degrees you have, the less are your chances to get a good job with nice wage. That is simple and understandable, but aren't we overestimating the benefit and value of official education? Maybe we are unfair to those, who have less diplomas, but greater life experience?

In fact, people with experience performing much better than those with a higher degree. This is because experience leads all everything we do. We can’t survive without experience. So the moral of the story is, get both, work experience and qualifications. For some people, they start by getting the paper. But after a time, if their experience doesn't increase, their advancement also stops there. So they need to up their experience factor.