This post may be what they were referring to. There is at least one highly upvoted comment saying no one died, and several saying it was a western fabrication.

It's great that you have some IT experience, that usually helps more than either a degree or certifications in isolation. The way I look at is is experience > certifications > degree. That being said, it will depend on the job/organization. Some positions will require a degree (sometimes any degree) to get through the HR filter. Less organizations are requiring this which is great.

If you're not interested in getting a degree, I would focus on certifications. You can absolutely get an entry-level position with just IT experience and certs.

My advice would be to look at the requirements for 8+ jobs you're interested in and make a weighted list of the certifications they're asking for. Use that this to prioritize which ones you pursue.