It's only after you complete it that the troubles start :)

I was discussing this very issue with some friends of mine last night. The non-PhDs in the room could not believe what we were saying (core issues seems to be very limited opportunities in academia and research labs, a very strong job market for fresh graduates, and a general disdain for PhDs by startups).

True, although if you're in Europe, it's definitely not as hardcore (tenure wise etc.) as the US.