Not quite right. I am now an australian citizen. Got points for qualification using one of my uk degrees. I now have cissp which I did not have at that stage. Cissp could be harder than a degree.
If I am to choose between a cissp and a technology graduate for a cyber security role, I will pick on the CISSP.
In uk CISSP is considered as a qualification equivalent to a master's. But based on acs policies you get point for a diploma.