What is your opinion of the never get old idea of education is defined by the number of degrees you have and not by the experience you have ?

Education is an inexact term. It can be broadly defined as the body of what one has learned during his life, formally and informally. Or, it can be narrowly defined as the schooling and degrees one has attained. It depends on context and intent of the speaker or writer. Neither is incorrect, but that doesn’t necessarily mean life experience can substitute for formal schooling or vice versa. Sometimes it can, but far from always.