{disclaimer, I work at CCA in the Admissions department}
I would like to echo Dave's comments that you have to take the source of any opinion into account. There are a lot of ways to get an education in this industry. I was apprentice trained, working my way up from dish washer over many years until I was an 'official' apprentice (meaning taking supplimentary classes as part of a formal program) at a higher end facility.
As one of the few admissions representatives with industry experience, I find it easy to relate with my students and make sure they know what they are in for and what to expect.
This is a difficult industry and it's definately NOT for everyone. Even graduating with a degree, you still have to prove that you LEARNED what was taught, and thats going to mean a lot of hard work.
The example of going to Law school is valid too. Having had a few friends go through Law school, graduate and get placed, their first few years are just as grueling for the exact same reasons. There are many people who do not have the tenacity to stick through the initial portion of their careers and often chef's are reluctant to put a lot of effort into further training new staff that are going to 'drop out'.
Most 'overnight success' stories do not stress the years of striving required to achieve their success. In my opinion, Luck=Preperation+Opportunity. You have to be ready for the opportunities that often continually pass us by because we do not recognize how to take advantage of them.
Like Dave, I never mean to scare anyone off. Definately do something for your career that you are passionate about, just make sure that you understand how the industry works. However you get your training, put your whole heart into it, if you are going to hold back because you are unsure, you may never get the full benefit of your training or education.
And to Jock, Charlie Trotter is our most famous drop out.

Don't forget about Roxanne Klein, Juan Carlos Cruz, Claud Mann, Paula DeLuc and Ron Siegel.