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I know you're an old fart like I am, so I literally cannot see the point.
Academia's worthwhile for research and development, or consolidation in a high art profession. Design isn't, in my mind, a high art profession for most people. Not to say it's any less valuable, enriching or even profitable.
It's just not a doctor, scientist, ridculo-artist or even a good lawyer.
i just don't get why you'd bother.
Which is to say — whatever it is you want this to help you achieve in life, do it actual.
It ain't rocket science. it's hard work, competence and luck.