When it comes to education for the games industry, it very much seems to be hit and miss in certain cases. On one hand, the creative industry's are very different from that of any other field, as its all down to the work you can do, not necessarily your cover letter and CV.
However when it comes to the educational side of the games industry which is more complex than that of other creative industry's, being able to have an education to gain access into the games industry is paramount in most cases. A lot of people who might be interested in going into games will likely have a very vague idea about the software's used, game engines and art requirements; so being taught by people who know the industry and what it demands is essential.
At the end of the day though, game developers want to take on the best people possible, mainly because games are expensive to make and having a slacker or having to train a new guy is time consuming and can be costly.
However, I think one area in games education that suffers when the new console generations come out is the games production side. I'm personally a little concerned over this as there are lot of strong rumours across Microsoft and Sony about there new consoles having secrete developer meetings, and even dev kits from Sony being sent to there first party studios. If these rumours are true, we could expect a teaser of the new consoles this year, which I do think is unlikely, but never the less, the jump in terms of technology and the new techniques and knowledge needed will be vast.