I only have my own experience. And the MBA was as valuable to me, if not more valuable, than my engineering degree. I'm not saying you need an MBA (or that I need one). I am saying that there is value in an MBA, and it goes beyond a rubber stamp demanded by big business.

There is real, honest value in bringing a bunch of smart people from a wide range of backgrounds together for two years to study the way people behave while engaging in commerce. That the nature of business is poorly described by physical laws makes it no less worthy of study. There are good and bad ways to do accounting, finance, operations - even marketing. Why not learn about it? And if you do learn about it, how can that be a bad thing?

Education is about learning how to think. My engineering profs and peers taught me a lot about one way to approach problems. My business school professors and peers taught me an equally useful, and almost completely orthogonal outlook on life.