No, this isn't true.
You probably encountered a small sample size.
I've met many dud developers who graduated with a CS degree and I've met an equal number of them without a CS degree.
A lot of CS grads, self-taught, bootcamp developers just want to get into software because of the pay. Those usually don't have real passion for the field. They don't improve themselves and generally aren't interested in pushing the envelop at work.