Most people who go for more degrees believe they can get better job at the end of the day. People that only go for more degrees in a stare with high unemployment rate are they doing right thing by putting all their focus on academic because this is the only thing they can do best.
Although we can not deny that there is definitely some truth to the idea that education can lead to better job opportunities but one needs to consider the local economy and job market. If there are limited job opportunities in a particular area then even a highly educated person might have a hard time finding work. Considering the cost of education is also necessary. In some cases, people might go into debt in order to get a degree and then find out that there are no enough job opportunities to justify the cost. It might just be better to consider other options like vocational training or apprenticeships if the chances of getting a job is very slim.
On the contrary, what some people consider is the value of education beyond just getting a job because education can also provide personal enrichment and growth, and can lead to more fulfilling work and a better quality of life and even if someone doesn't end up getting a high paying job after getting a degree, they may still benefit from the experience.