Most of the people doing real ML in industry are prestige hires--they're hired because their names draw people in, but basically get to work on whatever they want--and you need a top-10 PhD at an absolute minimum to be eligible for those.
The ugly truth about industry is that 99.9997% of it is flow capture based on power relationships, found artifacts (i.e., corruption opportunities) within the state, and the implementation of very simple processes but in a way such that the threat to executive reputations as a first priority, and profit as an important second one, are minimized. This doesn't exactly make a market for ML innovation, unless your boss for some weird reason still cares about being a co-author on your papers (which his bosses will pressure him not to let you publish, because after all, this publishing is a distraction from your paid work).
On the other hand, if you want to be able to afford a house in the Bay Area, and to be tapped for (indeed, most likely forced into, both due to losing interest in and being unhireable for IC work) management in your mid-30s... then go for industry. The poison carrot will make you sick but it will kill you more slowly than poverty, so that ain't so bad, now is it?