Earlier quoted context omitted.
Why do you think PhD is a waste of time?
I would say that PHD is not a waste of time only if you plan to stay in academia. If writing papers and chasing grants is your jam, go for it. If you are looking for one more thing for your CV, don't bother with phd.
Anec-data: me and several other PhD folks who all dropped out of CS/Stats/ML and got plenty of offers for jobs and funding. :)