I think this is absolutely true. Some of the responses seem more rude becuase this is the main question asked ad nauseum on this forum. " How can I get to be, like a psychologist despite it looking so daunting" and everyone wants a shortcut. The shortcuts honestly suck.
I've now been in private practice for a mere 4 months. I'm here to say I'm blown away by how much this stuff actually matters. I honestly didnt consider this before, but patients read my bio on the web and come in knowing where I did my undergrad, ma, phd, etc. Patient told me last week that one of the reasons she chose me is because where I did my masters and she is from that region so she thought I'd understand her a little better + she knows its a good school. If you dont have that, that's a potential patient you're missing out on without even knowing it.