Lots of people lose jobs over falsifying credentials. The higher up the ladder you go the worse it gets for example Yahoo CEO's computer science lie. It's a good idea to even make sure your resume is month accurate to avoid misunderstandings. Degrees shouldn't be required for most jobs but people shouldn't make stuff up.
Devil's advocate: She may be as high as she is because of those false credentials, and Amazon might keep her because she's profitable. Falsifying credentials may have a greater average benefit/cost than actually getting the degree.
IMO it isn't more unethical than what big businesses typically do, like take advantage of unfair tax loopholes. Someone else pointed out that requiring a degree is illegal; if so, I'd say it's ethical for people to lie about their credentials when businesses engage in unlawful behavior by screening for them.