Anecdotal data point (caveat, I'm from France, so maybe this just reflects a difference in culture):

I'm just completing my PhD, I have already written my dissertation and am waiting to defend (end of August). These past 3 years have been awesome, I was lucky enough to have two advisors who basically let me choose what I wanted to work on and were supportive from day 1. The research I have done, and the results I have found have landed me an awesome job 9 months before graduating. And I've travelled to three continents to present my work.

I admit, this is just one data point, but doing a PhD can also be a great time.