Does not mean*

And I agree with that, but if the job listing says We need a Master on X or a PhD on Y… someone will need to budge

You think so ? Good luck certifying that the foundation for that bridge allow a 7.5 earthquake without collapse and that your firm can spend 250M USD building it. Maybe you will seek a PhD signature on that piece of paper...

Many times, the companies are forced to say that their jobs need the degree, otherwise their existing visa employees would be at risk. It's all optimized just for the sake of the bureaucracy, it has little to do with what the people or the economy needs.