I don't think other cultures are driving much of the trend for educational check marks. I remember my dad and uncle talking about the awkwardness of being asked where they did their MBA's by colleagues/clients in the late 90s/early 00's and them trying to figure out how to navigate that as they didn't even have bachelors degrees. And I doubt whoever replaced them when they retired had less than an MBA.

Between increased regulation and greater competition for jobs, the degree requirements keep going up in a lot of/most industries. I also think there is a tendency for those that have reached a level of educational attainment to push back on others without equal numbers of checkmarks. Once a role is populated by MBA, PhD, MS or even BS, individuals don't like to see others doing the same work with less credentials. Maybe it's a 'I had to do this, so you do too' mentality or a sense that it devalues their own credentials.