I believe doctoral students get more in terms of the philosphical and the abstract, as well as a much more rich and diverse theory-driven education which lends itself to greater meta-analysis of our clients in the practical application of our learned experience.
As far as "lost time and money" goes... we each choose how we're going to spend our "time" so, for me, time spent on becoming a more well rounded clinical psychologist is not what I would call "lost." Also, I don't look at time spent doing other things when one could hypothically be earning more money "lost money" because it's pure theory - there could theoretically be more money earned doing many things "not school" and there are choices that are made during "not school" that could both benefit and cost an individual further opportunities given a certain theoretical life path. These potentials exist no matter what we do and one could drive oneself crazy thinking and rethinking the significance of every decision one chooses to make even in a given day. So, let's say I had a career I was pursuing instead of school, there would be time spent "paying my dues" there as much as time spent paying my dues in school. The costs may vary but the bottom line is the same.