At least that's the impression I get from a lot of PhDs. I don't have one myself, and I used to regret that, but not anymore. PhD work is hard, thankless, underpaid work that has little to no value in industry. Although it does open up opportunities to even more hard, thankless, underpaid work in academia.
The one exception is Machine Learning. A PhD in ML can apparently get you paid millions in the industry.
But if you already consider 9 months a huge hurdle, consider what a hurdle 4 years will be.
[0] https://en.wikipedia.org/wiki/May_you_live_in_interesting_ti... (It's apparently not based on any actual Chinese proverb or curse.)