I'm a tenure-track professor and a former researcher at NASA JPL. It is true that the market for tenure-track professors is terrible. One needs to have a number

I'm a tenure-track professor and a former researcher at NASA JPL. It is true that the market for tenure-track professors is terrible. One needs to have a number of high impact papers and come from a top-5 program to be really competitive without doing a postdoc in engineering. In the sciences, even that isn't true and a postdoc is usually needed even if finishing at a top program. That said, there are many good reasons to pursue a PhD. A PhD in engineering/sciences gives one training in research, and there are tons of awesome applied and basic research jobs that require a PhD that aren't professors. Working at NASA JPL was amazing, and it required a PhD. If a person wants to do research, then a PhD in engineering/sciences opens many doors. I think more graduate students need training in career planning and that they need to have realistic expectations. Too many people think they will win the lottery.