There is a distinct possibility that when people like the guy you were talking to “retire” or get forced out, these corps will hire you (a person without the degree but with the passion to do the job). In pretty much all cases you should assume that they will be taking advantage of you in any way they can, including by looking to use your much cheaper labor to fill the holes the other guy left when they retired.

They will pay you a fraction of what they paid him regardless of your skill. They will avoid any and all training so they don’t have to increase your pay. They will try to force you to use AI rather than building skills you will need to progress in a career like this. And when you give pushback they will force you out either by outright firing you or by making things so miserable you abandon your job. They will continue to do this to anyone they can get on the hook. Probably even after the bubble pops (using local models instead). They don’t want knowlegable humans because those people can ask for what they want and will advocate for it. Those people know what they are worth. They want patsies.