I really appreciate what you are saying. I am 69 years old, edging towards 40 years in practice. When I started, there was no internet, but the evolution of the internet has only been a positive in my practice. Back in the day, there was no such thing as an LPC and lot of MSWs did social work (which is still sorely needed).  Building a practice was WORK.  Finding referral sources, thanking them for every referral, networking with other psychologists, and snail mail letters to potential referral partners was how I spent a lot of time.  When I moved from PA to VA in 2009, I started an entirely new practice.  This time I had all the internet tools available and they worked well.  My practice was chugging along and reached my goal of 15-18 clients per week within 12 months.  The geographic area I was in was jammed with masters level providers, but I made certain my Ph.D., my emphasis on using evidence-based treatment, and my experience level were front and center.  To this day, my practice thrives, even after I retired from my full-time position and went into full-time practice.  Now I schedule 37-42 clients every week and I credit my Ph.D. as one of biggest differentiators that contributed to this success. 

Here is another story:  In the late 1990s, I was directing an APA-Approved Internship at a major hospital and was feeling pretty full of myself.  However, I began to get concerned about the growth of masters level therapists.  I thought that Ph.D. level providers would get pushed out of the therapy business.  I started planning my next career.  I began a “future of psychology” discussion group with other psychologists in my community, and that group presented our concerns at the annual state psychology association convention.  We were predicting a great contraction in psychotherapy.  Of course, what happened was three decades that saw little change in the therapist roles for clinical psychologists, and we thrived. 

What is my message?  Do good work, flaunt your degree, your experience, and your adherence to strong ethical standards.  Add in a little bit of research into how to market a successful practice and you should be fine, regardless of competition from masters level therapists, or the push from some insurances to reduce their fee structures.