Interesting. My dad leads the AI division for a major tech company (one of the top 10) and loathes interviewing candidates with masters degrees for the same reason. "They are smart when it comes to research but fucking clueless for implementation" I believe were his exact words.
I'm a high school drop-out and I've been doing software dev for 17 years or so, currently a senior dev in FAANG. My experience with master's degree holders has been about the same and I often surpass them on teams I've been on when it comes to promotions or getting recognition. To be fair though, two of the most brilliant devs I've ever meet in my career had master's degrees.