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I’m at a holdo as well and have seen MBAs be promoted faster than others, but assume this might be due to work ethic and ambition. Bit of a chicken or the egg situation
It can be a mix of both definitely
What MBA program costs $10k? Part-time MBAs at Canada's top schools like Rotman, Schulich and Ivey will run you close to $100k.
Unless it's one of those schools (and even still, there's better places to invest that money) I'd lean towards no. They credential value has dropped, and they've never been that important in advertising.
HEC Montreal part time MBA costs around $12.5k for Quebec residents, and my employer can even reimburse me $1.5k a year.