There are also MEng degrees which aren't research-based.
My MS, not that I'm saying one should be mandatory, was pretty practical. I had to do a hell of a lot more math in my undergrad classes. What I got from the MS, apart from the research project, was subject matter not covered by my undergraduate civil engineering curriculum (thorough treatment of finite elements, prestressed concrete, two-way slabs, stability), and a pretty good understanding of how those numbers and formulae in the codes got there. Which is pretty important in my job, since I'm responsible for enforcing those codes, or figuring out what to do if they aren't met, and if all one has is a go/no-go state with no insight into WHY, one can't exercise judgement.
In some fields an MS is a consolation prize for a failed PhD (I have one of those too). But in others, particularly those where PhDs aren't very common, an MS is a very legitimate primary goal.
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