You should separate the reasoning from the execution. I've done some certifications over the years, but wouldn't say the pattern fits with certificate collector.
Why do these at all? For me, I was first in a role with a Microsoft partner. Certifications count towards their partner level, so they are incentivized to get their people certified in areas that accrue to their partnership. For a few (often regulated) clients, the certifications qualified them to participate in RFP processes.
They didn't hire based on certificates and had a great understanding of what different certifications brought (zero to a little.) Taking a recently introduced certification over an older one was preferred because Microsoft introduced lifetimes at some point. Support in terms of materials or time-off to take exams was provided.
Many companies have Azure and AWS, or AWS and GCP, etc. to try to create some competition when renewing deals and avoiding lock-in. It doesn't always work out in practice for them, but if you moved into the consulting space then you'll find that having a Microsoft cert and an AWS one will you pivot more easily. There is a lot more value in knowing two of these than just one.
I've moved on, but since then I have discovered that at times there is value in using certs to quickly attack a new area. This is only to get a lay of the land and force yourself to cover things that an advanced person will often skip. If I see something new I'll often jump in, get stuck, and then reverse engineer my way out. This is very important, but spending some time on the boring cert-level stuff enhances learning when it's available.
In terms of getting the certs, it depends on the exam. Lower-level Microsoft ones have been achievable with just reading and limited hands-on work. They've now got some more depth and you are best to have quite a bit of hands-on with more resources easily applicable to someone writing .NET. Adapting to another platform probably will help making the content stick. I would expect most people to pass these on the first attempt. Watch for vouchers etc. enabling retries.
Microsoft Learn seems like the new place to go for training now. I've done a few of their courses on Sentinel and other tools and it reminds me a lot of their old school cert training. I had good and bad experiences with certification tests. You need to check the reviews for your specific exam.