I agree that it depends on the job. Just to be clear, the MBAs I hire aren't for what I would say are high responsibility jobs. They are for jobs like business analysts. These roles certainly have responsibilities - but they aren't management roles by any stretch of the imagination. The last international student I hired for one of these roles had a bachelor degree from India, three years of experience at IBM, and a Masters from U of T.
Here's the thing - business diploma (both regular and advanced) are quite a bit easier than bachelors or masters business degrees. And everyone know this. I hold a bachelors and a masters - and have also taken advanced diploma college courses (to increase my understanding of certain programming languages). It's easier to pass college business diplomas, it's easier to get into the programs, the classes are less demanding, and they don't test your capabilities to the same extent as a degree. When an employer sees that someone has complete one or several degrees, this demonstrates that they have the work ethic, intelligence, capabilities, etc. to get through a hard and stressful program. These are capabilities I look for in an employee as well because my workplace is stressful and demanding. When you see a Canadian opt for a business diploma over a business degree, this generally means they don't have high enough marks or strong enough capabilities to be accepted by a university and complete a university program. Again, just being completely honest about how people view diplomas here.
I'm not saying a business diploma holder won't be hired. But degree holders generally get better jobs at better companies with better pay.
But again, it definitely depends on the job. If you are going to be an animator or technical illustrator or chef - then college is the only choice for you.