True, but it's regulated in many western countries. I think it's regulated in the UK, much of the US (including I think California where many of these companies are), Canada, and apparently France.
A self-taught developer might apply for a software engineering job, but they won't be able to apply for a mechanical or electrical engineering job. My degree isn't meaningless. It's just annoying because people refer to hiring engineers when they're looking for "software engineers". I have training over and above simple technical skills that a developer wouldn't normally have (e.g., ethics and law).
