[superqd]

This likely depends on the degree and the purpose for which you tried to obtain it.

Some online Masters degree programs are just scams preying on people's desire to improve their careers. They are successful because so many employer's won't pay or promote to certain positions without advanced degrees. So there is a real demand for degrees like MBAs.

For some degrees, the real value is the additional education you receive because of the increased complexity of the subject. Not everyone goes after these degrees for the same reason. For me, I went to grad school in physics not because I thought it would help my career, but because I wanted to learn more physics. I don't think this is the typical reason for which advanced degrees are sought anymore, but at least in some cases, like mine, master's degrees aren't scams, but a necessary part of deeper education into a specific area.