Not necessarily. Many employers who don't require a college degree can be reluctant to hire someone who is "over qualified" because they are more likely to quit as soon as they get a better job, and they are more likely to keep looking for one.

With that said, there's also a lot of jobs that list a college degree as a requirement that absolutely don't need one whatsoever. I suspect this is largely to cut down on the number of applicants.

Back when applications were done on paper, I recall turning one in to a prospective employer, who set it on a stack of paper around 15cm tall, which just so happened to be right next to a trash can. Now that you can apply to 50 jobs in an hour because job application sites basically pre-fill applications for you, it's insane what hiring is like in any city bigger than a small town.