I think the problem for you was not that you dropped out, but that you dropped out and then had two very short stints at employers. Hence the worries about your ability to commit. When you see a dropout followed by 4 years at the same company where he assumed several levels of new responsibility, the work experience cancels out the lack of an education: he's already proved that he can commit to a task and do well at it. When you see a dropout followed by two jobs of a couple months each, it screams "dilettante": it says that as soon as you get bored with something and the honeymoon period ends, you go looking for something else. Nobody wants to hire the latter type of person.

People look at your whole resume for patterns, not just each individual section in isolation. Dropping out can be either good or bad - it depends on what you do afterwards.