Master's degrees in content areas - English Language and Literature, Biology, American, European, & World History, Mathematics - are certainly going to inform teachers in a much more meaningful way than one in Education or Administration or IT, or any of a number of other nonsense degrees. The College of Education on most university campuses are mostly to blame - that and teaching associations - and don't even get me started on the University of Phoenix. For years, I have been annoyed and dismayed by colleagues who got the Master's in Education "just for the pay raise," and they are the worst in complaining about what a waste of time and money it was.
Scholarship is what truly guides a growth in education, and a program that lacks one is destined to be mediocre. To start with, the lack of a Master's Thesis, or the substitution of a "shorter" assignment of "three long papers" or a few "projects" is anathema to intellectual growth. If states want to clean up the system - and their payrolls - they ought to start with the Master's in Education.