I think you need to determine what you want to do with your educational credentials. In some instances, you're correct in that an MS is more than adequate. In other situations, an MS qualifies you to be a bottle washer in a lab.
As a general rule, academic degrees exist because you pursue academic knowledge, which is neither better or worse than practical knowledge, it's just different. So depending on where you plan to spend your career, that will dictate whether you need lots of practical knowledge or lots of theoretical knowledge. While either can be acquired over time, you might not get the opportunity to go in depth in the academic aspect while on the job.
You might simply have to ask around at various companies to get a feel for what they need or want.
TTFN