I spent 20 or so year pretending to be an engineer. I was given the chance to get a qualification and I took my opportunity. I did an HNC, literally aced it. Then did a degree, aced that too. Now I'm a Chartered Engineer.
Do I know any more than before..? No!
The qualifications just allow me to prove what I know.
Do I earn more, a little, but certainly not 70k per year.
I've done manual work, CAD (including AutoCAD) and drawings, I also did all of the calculations. Now that I'm a "professional engineer" I don't do anything engineering, I just tick boxes.
A good engineer is a good engineer, qualifications or no qualifications.
A point to note, the Institution of Mechanical Engineers and the Engineering Council assessed the merits of reserving the title of engineer for qualified people, they found that it would be counterproductive, so they didn't push it.