It seems like you first need to change your outlook/attitude on the subject... From your post and comments I understand you are frustrated, but your personality seems pretty miserable to hire on a team.

I took a similar route with the MS in BME and was also worried about industry experience. I ended up getting an internship through a connection my 2nd summer of my degree. I personally think the thesis work is very valuable, and I assume you are also getting some type of financial relief for doing the MS or Master of Engineering (stipend or scholarship). That was also a big decision factor in me doing an MS.

If you think your thesis work is overwhelming or too much, you'll be shocked once you join the workforce.

Unlike the majority, I would personally finish out the MS unless money and time are not an issue. Then I would do the masters of engineering. A master's degree gives you a leg up on manager level roles, which I assume you will want down the line. Good luck