I've also heard the opposite, that it leads to absolutely nothing and you are kind of treated like a PhD dropout, at least in the US. Just be careful, I guess, and get plenty of advice from real people who took that path (successfully or not). Oh, and a bachelor's in engineering physics seems to lead to nothing as well. Have had quite a few friends go to career fairs and every company rep lost interest as soon as the…
They're different people. And a lot of then value living their lives over slaving away and are OK with that.