I think it depends on the classes really. I'm getting an Animal Science degree right now w/ an emphasis on horses. I've learned a lot from it even though I've been around horses my entire life. Of course the problem there is getting horse people to believe that anything not learned hands on is valuable also. I cannot tell you how many times I've heard "Just because you take classes about that subject doesn't mean you know anything." My classes are primarily science based so I have to disagree with that statement at least a little.
Anyways, I'm getting my degree not so I can work with horses, but because I wanted to finally finish my degree. You would be suprised at how much of your equine knowledge will be helpful in different careers. In my opinion you get out of school what you want and you can "twist" anything to your advantage in the job market. I don't mean lying or anything just the usual creative thinking about skill application. Good luck with your decision.