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Me, being a person that values education, motivation, and hard work above all will have a different opinion on the subject. There's a reason why most people don't have a PHD and it's because it fucking sucks to get it. My professor said it was the worst experience of his life and the stress was too much.
The only reason I didn't further my education is a lack of funding. No one paid for my 4-year degree so I left college already $35k in debt with no financial help at all. I couldn't get my masters because there was simply no way to pay for it. The government won't even give you loans for your masters if you already have a huge sum amounted for your previous education. I am bitter towards people who actually have the option of higher education and waste it.
So to me, quitting a PHD that you've already worked hard for is absolutely ridiculous regardless of how bad it sucks. This isn't dance class or band class or poker night, this is a huge decision that will affect how you live for the rest of your life. You will most likely never get your PHD if you quit now. You mention that you should be working your way up in a company now and that you're wasting your time getting the letters behind your name: it will be 5-10 more years before I make the salary of someone with a PHD in my field. You start so high with a PHD that "working your way up" is negated. Having that doctorate is simply tremendous.
The biggest waste of your life would occur if you quit now (from my perspective). I think it's OK to quit when you are ABSOLUTELY sure you will never, ever regret the decision or look back and think "I should have kept going."
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