I think this is an excellent, well-observed piece. Credentials mattered more at a time when the measurement of effective results took longer to read so that university degrees and performance badges were indicators of the probability of future success. However, the modern age is an accelerated age and turn over of results based on performance is almost immediate. Companies have to be able to make much quicker, adaptive decisions than ever before; it's like everything is in a state of constant crisis management. Obviously the younger and leaner the company, the less baggage its accumulated and the more nimble it can be, but not always.
Larger enterprises that adapt with more localised, distributed structures are able to operate and respond as smaller units but still maintaining the strength of size.
Anything that is more based on measured results is going to be better as long as the means of measurement are also measured.