Why not do both? Degrees have value because you can better produce new knowledge. In addition perhaps it's free or cheaper to get a degree in some of these countries compared to the USA. So a degree is welcome (for example a doctor requires a degree to practice medicine but then can share their knowledge on Steemit).
The benefit of Tau is in taking an intangible asset (knowledge) and allowing it to be monetized. Education in itself does produce and increase knowledge but there isn't a way for brilliance to be monetized in a direct fashion.
I think Tau as edu machine is not non-degree thing. In fact it will allow pretty precise assessment of what exactly one knows. What better degree than that, than a Tau real time rating? Universities and other centers can use that!