As good as? Many times, better. I'm self-taught, so I have a bias.
Honestly, though, I've hired both in the last 20 years. It's a mixed bag. To be honest, I've had better success with self-taught ones.
I think what's largely missing from those with a CS degree is passion. For many, it's just a job. They're book smart. But that's it. Have them try a new language with no one else to teach them and see what happens.
To me, programming is an art form. The computer is a canvas. It's really hard to teach the ART of programming. You can teach algorithms. You can teach syntax. But you can't teach someone how to string it all together to make something fantastic. That's a talent, a gift. Some with a CS degree have the gift, but, really, I find that more in the self-taught crowd.