I think that is a hard question to answer, because it depends on many things. So I'll give you some (hopefully useful) details.
To start with answering your question: I completed my PhD indeed and I would do it again. But mainly because I had such a good time. It was fun, I was with people in my age group, traveled (about once a year internationally). My prof was an older man and really cared for his students, he wanted us to learn something and took time to help, even in the lab. This was all in the Netherlands where the salary for a PhD student is quite ok. I published only one article (although my thesis had 4 scientific chapters that could have been published). There was not a lot of stress nor a competitive environment.
That said, I had direct colleagues under an Assistant Professor that were pushed much harder, that Assistant Prof still had prove himself and his students had a worse time than me.
Being in between a Physics Prof and a Molecular Biology Professor also taught me the importance of plotting my own path, I was the one with the best information in both fields. I realized this quite late.
My PhD did help me get hired where I work now (although I may have been hired faster at other places without it), and it makes some things easier, mainly I think it helps in meetings with many other PhDs. But that may just be how I experience it. Interestingly I have a colleague with who I am often seen as "a pair" but after her MSc she briefly worked in an academic lab then switched to industry. She is very good at organizing stuff and got the team lead position that I also applied for. She is at the same level as me (although she got there a bit later) and makes about the same as well. She proved herself in the company and I bet she would have no problems finding a job elsewhere with her track record. She leaves no loose ends and gets things done in complex research projects. You don't need a PhD for that. But she confesses she often feels uncomfortable when we have meeting where everyone introduces themselves and their PhD topic and further career. I think it's BS, she's being too modest often, I wonder if a title would have helped her there.
Was it worth it? I don't know, I liked it. My advice would be to try and find a nice prof, a fun group, make sure you don't end up as a "measurement slave" and burn out. That may mean you ignore that super high profile lab, but that lab may burn you out. I've heard professors smilingly proclaim "This was tough, I burned 6 PhD students on this". You don't want to be one of those.
It's nice to be able to focus on 1 topic for 4 years and make it your own. But you can get where I am without it. And you may find something like that in industry as well. I ended up in a Research department, where we had a lot freedom, a lot of money and a lot or rapid prototyping technology. I really enjoyed that. I still got to go to conferences, albeit a bit less than during my PhD.
I saw people dropping out, and I understood why, even though our group and prof were low-stress it isn't for everyone. There is no shame in it. Only finish it if you're having a good time or the finish line is near. Hope this helps, feel free to ask more. I often coach the young ones over a beer late at night during the few conferences I still attend (pre-covid) ;)