Usual disclaimers apply.

First, there's no question that Cisco certifications will continue to 
have value.

Second, the networking market is not homogeneous.  There are factors 
where characteristics of the IOS that are quite desirable for 
enterprises are specifically undesirable for carrier markets.  The 
enterprise market tends to want rich feature sets, and the carrier 
market wants control and availability. IOS contains a good deal of 
functionality and complexity for dealing with legacy protocols.

Several consequences here. Even though Cisco has a substantial number 
of release trains, Cisco still does not allow users to create images 
that contain only the features they need.  This isn't evil; there's 
reasoning behind it. One reason is that Cisco could not possibly do 
pre-release testing and post-release support on every linkable 
combination of features. Another is that while user-specific linking 
(ala IBM MVS) reduces resources and complexity in the running code, 
it has significantly more setup requirements.

Another consequence is using feature-rich code in a "carrier-grade" 
environment.  The more complexity, the more things to go wrong.

Small and medium business users typically need different kinds of 
operator interfaces than do carriers and very large enterprises.

So one of the reasons that a Juniper is grabbing carrier market share 
is that it consciously both made its software more and less complex. 
Its command interface is more like C or at least UNIX configuration 
language, optimized for programmers rather than Windows-oriented GUI 
fans. Such a language lends itself to scripting and customized 
configuration generation.

Its real-time software, however, does not support non-IP and indeed 
legacy IP features.  As a consequence, it's more testable.

In my day job doing product design, I find myself constantly 
interpreting between the carrier and enterprise viewpoints.

What does this mean for the value for other vendor certifications? 
Something aimed at a niche market may very well not have an 
equivalent to the CCNA.  Not too long ago, I was part of a team 
developing certification for a cancelled carrier router project. 
While we identified a three-level certification hierarchy much like 
Cisco's, the minimum skill set to be useful in a large ISP market was 
much more like a CCN/DP than a CCN/DA.

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