This belies what you posted.
*Over 96% of full-time journalists hold a bachelor’s degree, and nearly half of them majored in journalism or communications specifically, a percentage that continues to rise over time.[1][2]
In summary, a one-year master's program is a common and viable path for many, but a master's degree is not the only, nor universal, degree for a journalism career.
If the money wasn't there, and most won't become media stars, what's the draw?
Too many sweeping generalizations for me.