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Generally accepted logic is that visible payoffs are not immediate but several years down the line for more senior roles. Ex. when someone is looking for a VP/Director/C-Suite role, the network and resume line items are more valuable. Most people will go back to similarly leveled roles, potentially in a different industry (like engineering -> finance/consulting).

As a corollary to my anecdotal data, I'm not sure I've ever met an exec who had an MBA and I've never even thought of putting it on a job description for any kind of leadership role. Except maybe a CFO type position.

Part time executive MBA programs are often a better option for people in that situation.

It may shock people but an MBA is not a substitute for competence.

An MBA can be a massive leg up in certain circumstances. In other it’s a box you need to check.