EDIT: Of course however a general CS degree is quite valuable by itself, esp. if you get a job in something other than gamedev.
Yeah, that was pretty much the CompSci guy's argument; That a game design specific degrees can somewhat lock you in to working in game dev. Even though they can still branch out into regular CompSci jobs, those jobs would hire a regular CompSci major over them so it puts them at a major disadvantage. Where as, oddly enough, in the game dev world they'll take either one equally.
Thus, unless you luck out and get a actual job in game development, getting a game dev degree really limits your options in the real world.