Posted this in another forum in response to very similar negativity about MD.
I am close to your 50 dive wonder mark. I've trained with PADI. I've supported the hell out of my local dive shop and DRIS. The instructor I've been working with is awesome. So far I have taken PPB, Deep (and yes, it is a necessity for some trips) EANx, and planning to take Drysuit (why learn it the hard way when you can learn it right?), wreck and night (and wont even need this for MD) as well as rescue. If all goes well, by the end of the month, I'll apply for my MD. I think the 5 (6) specialties I will have are all worthwhile in that in each I learned a great deal, not just about the specialty, but about diving in general.
Do I think there's anything special about MD? Not really. Is shows that I have taken the time to learn what I am doing, but not that I necessarily know what I am doing. No matter how much experience at have, I'm sure i'll one day do something stupid (like a giant stride without a regulator in my mouth) I think the most important part is the training I have received and the great friends I have made, including my instructor. Why wouldnt I want him to teach me as much as possible?
What I have really learned is that theres a whole hell of a lot that I still need to learn. I plan to keep taking corses, possibly through TDI and do some extended bottom time on many of the great wrecks that I have seen and heard of, but thats for the future. I won't be doing this on my own, I'll be looking for a mentor, and keeping in mind there are lots of things I don't know that i don't know.
Kool aid, sure pass me some. I'm having an awesome time.