[personjerry]

You say "niche field" but in reality we could argue that there are no niche fields as all the information necessary to "self-teach" is probably out there on the internet. What's vastly different is the experience of being taught by someone who has a deep knowledge of the subject, and is willing to share his understanding. While this carries with it the nuances of that particular professor's experiences, it will be much more structured information (and tested, to an extent), and this is a big part of why education at a university is valued so much.

But certainly, university is not the only way to learn. The issue is that there are often too many applicants to jobs already, and recruiters use a university degree as a filter. I think this may be unfair to some people, but the companies also value their time.