This is very hard to answer without more information, but there could be a few things going on.
1: If they are looking for the capability to do the job then 20 years of experience usurps the 2:1/2:2
2: If they are stating the degree because they are seeing this as a job for someone who is fairly recently out of uni and on a sharp upwards curve then it would be an issue. This means they see this as a job for someone who has taken 3-5 years, not 20, to get to this point, and are hoping for future progression.
3: It could just be an artefact of an existing job advert (very likely) or it’s something they stick on all adverts, just because.
4: It could be HR being HR and looking for something other than their own grey matter to whittle the CVs down.
In case of 1,3, and 4, if you don’t get a positive response then get on the phone. Ask for the person that runs the site/office/whatever and have a chat. If you don’t get through to them talk to number 2 or 3. Believe it or not most companies quite like it when people show a real interest in joining and chase them down. Don’t be weird or narky of course, that goes without saying! There might be a good reason they’ve not picked you, the might tell you, they might not, but speaking on the phone is an excellent foot in the door.
Signed, ex recruiter and Head of Internal Recruitment.