OK, the gang really summed it up well.
I did the PMP, because my large multinational company required it of PMs at the time. PMP required about 8 evenings of hard studying to pass it easily, so its not worth what its printed on, frankly but.... Doing that helped me get ahead of the lazy one's who either took too long to finish it, or didn't bother. Then my large multinational company (LMC we will call it) decided they needed their OWN PM certification, which required PMP as a pre-requisite and then documented many hours of actually doing pm stuff and three interviews you had to fly to somewhere to do, so I did that and was now LMC PM certified (certificate and all)...that got me qualified to get promoted to a Project Executive (essentially a Program Manager) - this was awesome because the bonuses were much better if you had that title (that required the PMP, the LMC PM Cert).....then of course the LMC decided that all Project Executives needed to be certified. Back through the same sort of process but more documentation and more interviews to obtain that LMC Project Executive Certification. To top it all off, they then decided that if you wanted to be a senior LMC Project Executive that you had to get a LMC Project Executive Confirmation. This Confirmation had the pre-requisite of PMP, LMC PM Cert, LMC PE Cert. Whew, makes me tired of just thinking about it.
All that being said:
1. I wouldn't go back and change a thing as all this insanity is going to fund 3 college educations and an early retirement.
2. It was complete and utter bullshit and all of it could easily be completed with a bit of extra work effort, which was probably the point in the first place.
Moral to the story, sometimes you just gotta suck it up to get ahead. You never get ahead by over analyzing what your management wants you to do, and then not doing it because you think you know better.