Yes, they don't realize it or lie to themselves because ~50% dropout.
Given the attrition, I really question if PhD programs are honest with incoming prospects. Law schools and business schools are similarly "guilty" of pimping outcomes.
ITT: it's people complaining about being overworked and mislead in their PhD programs.
> Yes, they don't realize it or lie to themselves because ~50% dropout.
I think there's some misinterpretation here. Not staying on in academia after PhD (common/modal) is not the same as not getting to complete a PhD (rare).
In CS/tech, those who exit academia after PhDs get paid $300K-$500K in the industry. I don't think there's any misleading going on.