[RandomCSGeek]

I think you are confusing between specialization, and a degree in sub-branch. A degree in CS is always valued more than a degree in say IT.

On the other hand, a degree in CS with specialization in Networking, would be more valued than a plain degree in CS.

I'd say if you want to specialize, do a master's. A degree such as above would put the holder in really bad position if that field goes into ice age. In case that happens to master's degree, you always have your bachelor's degree to fall back to.