I am an academic and in my experience, these basic degrees say little about someone's professional knowledge, ability and competency 5+ years post-degree. What matters far more is motivation and continuing education, but not necessarily the formal kind, it's what the person learns as a combination of own effort to dig into things and experience. An ability and willingness to learn from own trial and error and a desire to grow and improve beyond school. Of course when we know nothing about someone, we look at their resume, degrees, whatever documented.

Despite my opinion above, when I was first looking for a therapist, I wanted someone who had similar education to mine, so I mostly considered PhDs. My first T had a MSW and a PhD, both from respected universities, long years of psychoanalytic training, and he was neither a good match for me nor someone with the kind of knowledge I was hoping for; he is mostly only interested in one modality. The second T had a MSW and educational pedigrees from so-called top notch institutions, and his breadth of interests and knowledge, as well as ability to engage and communicate, was way way above the first one. He was also a much better fit for me. But I really think it was related more to his personality and general social background than schooling per se.