But, a Master's degree is usually significantly less time than is required to get the Bachelor's. In contrast, the scuba "Bachelor's" takes a weekend and 4 dives. The scuba "Master's" is 5 full specialties and 50 dives. So, if you want to use the university analogy, I think the Master Scuba Diver more than exceeds what one should expect based on the preceding requirements.
What carries more weight--time or difficulty? Five specialties readily can be earned by almost any diver. Instructors here can correct me if I'm wrong, but I have to believe virtually nobody who has their eyes set on "Master Diver" fails a specialty course. But if you cast your mind back in the place of the average OW student, think how difficult it is for them. OW is quite the hurdle for many divers. Some probably drop out. And for us old crustaceans, the OW course took more than just one weekend--mine took two. Most specialties are a cakewalk compared with OW, where you have to build into muscle memory stuff that was totally alien and learn some theory that also may be completely novel to the average student. For example, if you already have a grasp of tables, then the Nitrox tables are just more of the same to you.