PhD vs industry?

Hey guys! I'm three and a half years out of graduation at a top university. I was thinking pretty seriously about getting my PhD in my last year of undergrad before I got a really great job offer. Three years later, the research bug is hitting at me. I decided to apply to PhD programs this year, and I'm really grateful to have the privilege of having options.I feel like this will be a really big decision for me -- whether to continue on in industry, or in academia. I have a pretty specific and niche interest (tangibles / computational craft) in HCI (human computer interaction) and have decent chances of getting into a top program. However I'm feeling pretty unsure about grad school after speaking to some of my friends who are currently in grad school and hearing them have pretty negative things to say about bureaucracy in academia and some of them are even going to go back to a tech job that they could've gotten straight out of undergrad. I would love some outsider perspectives on how worth it a PhD is.