I think a masters degree is not something that is really important, and should be owned by everyone.
Lol.. if everyone in the world is having a Master's degree, then who will do the blue collar jobs and the low-paying white collar jobs? Typically, 10% to 20% of the adults will be having a Masters or higher qualification in a developed country. That is the optimal number. If the percentage increases, then it will cause problems for the economy and for the job market.