The world is a changing place...
Everything listed here (regarding the difficulties, limitations, etc.) is true... now.
But stuff is changing so fast that I don't agree it is necessarily the standard anymore.
Licensing, certifications, and letters after your name enable you to fit into a world which is over-regulated, and extremely fat and sluggish.
Business is shifting. That world (which grew out of the business mindset of the '50's) is dying.
When I was at the chemical company, my title was "Engineer", despite the fact that I have no formal engineering training whatsoever. I engineered stuff, and that is what they wanted. The responsibility issues were always on the company anyway, so they figured they would save a few dollars on payroll. It is an idea that is "not quite ready for prime time", but growing fast.
"Real" engineers are getting older, and the market is changing faster than they are.
The license I do hold (General Contractor) is virtually worthless. Although it represents a professional certification, the reality of the marketplace is that there are so many loopholes, politics, and exceptions that it is MUCH easier to do a job without a license. It is not hard to hire someone who is licensed to take responsibility. That is not the way it should be, but it is the truth.
Ultimately, the consumers loose in both cases.
Cutting edge technology companies (Google, Tesla, Apple, FaceBook, etc.) don't give a darn about the piece of paper. They want creative genius.
My advice to a 50 year old- hang on to whatever certification you've got, and play it for all it's worth, because the next generation will not be so fortunate, except for military, scientific, and government applications.
My advice to a 20 year old- get smart. Your ability to produce product with creative solutions and continue to adapt for your entire life is your greatest asset.
My advice to a 35 year old- it's a toss up. You probably don't have the life experience to leverage the piece of paper like your older counterparts (and it won't last through your career), and you probably aren't versatile enough like your younger counterparts. Punt.
My advice to you, Look for a small company. You have the brains, but you will probably rot in the drudgery of getting a piece of paper and dragging yourself to work every day. I don't think that is the life for you. But you are old enough that you need to step up quickly to be a leader of the younger folks.
OR... look for an investor, and launch a product/ business.