I would agree - I just finished my PhD in October. I did my PhD (Computer Science) while working full-time as a research associate and I was objectively less productive as a scientist while doing my PhD. I did it for the "union card" and I am now applying for faculty positions that would otherwise not have considered me without the PhD.

It also agree it is very disruptive to family life and I think it not only drives women away from pursuing such a degree - it can in some cases contribute to women having fewer kids than they would like and/or increases the odds of them pursuing expensive fertility treatments later in life.