The MBA would probably be cheaper and definitely less of a commitment, especially an executive MBA.
Te reverse this trend, engineers really need to look at management as an important function. I don't see lawyers and doctors doing MBAs to move into management positions, but somehow, many engineers have this tendency of looking askance at management. That leaves the field open for outsiders to swoop in.
I think the aversion that most engineers have to management, is that software development is already a very nebulous beast. Actually delivering a solution that is called a "success" is often a slippery moving target. Being the one who is responsible for the project's success is even scarier.
You could say the same about a big legal case or a surgery. In both cases, lives can be on the line. Here it's just code.
It became scary for me when I saw extremely poor leadership that disregarded everything from Andy Grove's high output management. Forget that, I went through a series of YC lectures where speakers covered how startups should mature into companies, and even those simple management techniques were not being used.
