There was a time when a degree was enough to signal competency. Then it was a master’s, perhaps an accreditation or two, and now it’s a PhD.
Who is benefiting?
Perhaps it’s the hiring organisation, it’s certainly the awarding organisation, but is it helping us do the work we were hired for?
I very much doubt it.
The trick is to notice the status loop, then point it in the direction you want to create change. In the case of a coach, surely it’s towards practice, not theory.