I largely agree with you, except that I think the most valuable experience gained is that of exposure to information a typical software engineer is not privy to. I think this is often overlooked and is what doing a short stint in consulting should be about. Getting the opportunity to understand the inner workings of an organization at, often, a senior management level, was one of the most lucrative lessons of my professional life and is a selling point that I use when interviewing candidates because it’s generally true if they conduct themselves intelligently. Also, to reiterate your point, consulting can be incredibly lucrative if you price yourself at market value — most freelancers and consultants I’ve met are too afraid or nervous or get caught up in imposter syndrome, etc. to charge their true value. $300k/yr (in the US) is near trivial to make annually as a consultant, $400k/yr is where most capable software engineers should be, and yet few get there for reasons I attribute to lack of self confidence — a shame really.