Is a commercial Pilot License equivalent to a bachelors degree?

Not really. A pilot's license says you know how to fly a plane. A bachelors degree says you know how to study and have a fairly well-rounded education outside of your specialty.

A commercial pilot license is needed to get a job as a pilot, and the cost of getting one on your own is as much as (or more than) the cost of getting a Bachelors' degree and takes several years. Airlines might require a college degree in addition to a pilot's license.

To be a military pilot, you have to be an officer. To get accepted to OCS (officer candidate school) you have to have a bachelor's degree already.