Leaving aside the ethics of discrimination and considering it from a pure profit motive, the above would be true if you were the only employer in the world. You

Leaving aside the ethics of discrimination and considering it from a pure profit motive, the above would be true if you were the only employer in the world. You're not, and on average the companies competing with you for the best recruits overvalue paper credentials. That means it would be in your interest to attach negative value to those credentials, to get a higher percentage of good candidates who haven't already been snapped up.