Come on, that’s too harsh. An Executive MBA from a good but not great school is worth it if your employer is paying but most people who go to top tier residential programmes aren’t going to regret it either. Attending anything lower is a fool’s errand but if you can get into Wharton, Harvard &c. and you want to be an executive it’s great if you want to move into a different industry than the one you currently work in.
As someone who paid for a non-top MBA and regrets it, I agree with the grandparent - don't take a (non-top) MBA unless your employer is paying (and don't take the top one unless you know what you'll do with it, though connections will be very sweet).
If you can get into Wharton or Harvard I think it's very likely someone other than yourself will be paying.
But you’re not agreeing with the grandparent. You’re substantially more optimistic with regards to top MBA programmes than they are.