I think the degree is Ed.D. or PhD. We used to call the education degree the DED.. Or doctorate in education. you are correct in assessing their value. Most universities do not hire them outside of education departments as they do not count for accreditation.
It's pretty much a road map to get teachers out the hard, mundane and lower paying tasks of the education industry like standing in a class room actually teaching students and enable “educators” to do things that are far more meaningful and rewarding to them - and make big bucks doing so .
You know, things like creating five layers of administration for your grade school. If you school has more students than administrators making six figure salries you are just not keeping up.
Who is going to establish and administer your DEI programs, formulate and execute your kindergarten's community outreach and foreign policy programs, recruit and host your Gay - Straight Student alliance and monitor LGBTQ+ inclusion compliance and staff the refugee shelter that has moved into what was the class room of Building 2 that are now vacant because all the districts parents have pulled their kids out of the school and are now home schooling.