Outsider thought:

There's something, I think, to be said for opening up flight slots to NCOs...But NCOs with degrees only.

Flying an aircraft in an operational situation, thinks I, requires an intuitive grasp of physics, the ability to think instinctively in three dimensions, and a feel for spatial dynamics that most people don't have. You can figure that out from any reasonably-realistic flight sim, in my experience.

Doesn't mean one needs a degree - but the degree is a useful thinner for the bureaucracy.

The problem becomes, I think - if one were to make the switch, you run into the effect it may well have on morale of the current corps of pilots. The officer status sets them apart, gives them prestige - the flight status only enhances that, because it means you're part of an even smaller group - those few who are both officers, and (in their eyes) officers badass enough to become pilots.