Society in general benefits from individuals seeking a Master's degree for several reasons. First is that the person invests in higher education. Second, the extra income earned by the person goes to spend money on consumer goods which fuels the entire global economy and increases the quality of life for everyone. Earning an advanced degree isn't for everyone, but the added income is a boon if more and more students earn a Master's-level degree.
A lot of people get Masters degrees from bad colleges. Wasting time in school does not help you with real life challenges. Today, so many college are willing to grant advanced degrees because they want more tuition. Many graduates are left with a degree that is worthless and cannot help them to get a job that will make their investment in time and money worthwhile.