It's well respected afaik. The LPIC-3 stuff is brutal, if you get it some top companies would hire you on the spot. I guess even with LPIC-1 you don't have to search long.

The best thing is, it gives you the incentive to get a more well rounded skillset and understanding.

I would do it, if you did it half assed there are some training books for LPIC-1 I would start with. Stuff like that is easily tax deductible, or maybe your employer would pay for it and it's not that much.

PS: I wanted to do it, but then got more into programming. Still very helpful the stuff I learned back then.