I believe that certifications that don't have a practical aspect to them are totally worthless. I work in appsec and recently completed OSWE. The coursework was ok, nothing groundbreaking, learned a cute trick here and there.

Would I recommend it? Yes, especially if the company pays for it.

Company that I work for allows people to spend weeks of their working time preparing for top CTF contests and that is valuable because it is something practical. Just don't waste your time memorizing answers to exam questions.