Does anyone have a PhD in Computer Science?

I was wondering if a PhD in Computer Science would be a good road to take?

I came to two conclusions:

1. A Master’s degree in Computer Science is probably valuable.

2. A PhD in Computer Science, alone, probably is a waste of time, unless you’re wanting to teach.

Of course, this is coming from a young guy with an Associate in Applied Science in IT. I can’t imagine a PhD in IT being valuable unless you’re wanting to teach or unless you’re taking the classes for fun. Wouldn’t you be overqualified for anything else, but teaching? This is just a “water-cooler” thought.