its just one persons opinion based on his experiences, I do not share his views because my experience was completely different, for the sake of having a different perspective let me share how it went for me: I did my PhD (and an MSc before that) in EU, as a PhD I was paid an above average salary and it even provided me enough time to work as a consultant in parallel where I was able to get a few patents - which also…
Get out more. Elsewhere in the EU PhD is not paid, at best you're doing lectures all while without any paid time off, sick leave, and if you want a good laugh from the universities' administrators, bring maternal leave up. The experience of my partner left me with a very bleak and medieval picture of the academia. And of course, if you're getting a research grant through the university, it comes as a loan of ~60-90k€…
i know a lot of guys that were not able to finish phd or even basic bachelor degrees because they were too "proud" to adapt and believed they do not need to adapt and can live a good enough life without it
personally, in my organization i would never hire a person without at least a MSc for a non-research position and without a Phd for a research position - because to me the degree signifies they can adapt and will do what is necessary to accomplish the goals and won't quit on me when they will be pushed out of their comfort zone