The topics covered in a CS degree don't really change much over the years, the point is not to teach someone how to write in a particular language, rather teach a deep understanding of structures, algorithms and math behind computers and programming.And I think that's the gist of it -- the software development world advances rapidly. Just because someone earned a CS degree ten years ago means jack shit if you need a developer that is an expert in, say, mobile application development. I would like to think that experience trumps all.
For the most part unless you happen to luck out and work on something interesting there will be a cap on your career and areas you won't be able to work in. In some jobs a BSc isn't even considered enough and MSc is required.