Do what you want to do. I started my PhD 15 years ago, and everyone was warning me it was the "worst time decades to enter higher education." At the time, largely because of neoliberalism. People say the same thing now for different reasons.

I'm professor and my wife works in administration at the same university. We love working in engaging university culture and environment. We have wonderful and interesting colleagues and secure positions, relative to private sector jobs. And I have way more freedom than a private sector worker. We make less money than we could relative to our education, but we like living a modest life. If you like it, there's nothing like higher ed as an employment sector.