I think the uncharitable view people take of a Bachelors followed immediately by a masters but with no PhD is that they presumably weren't planning to go for a PhD, and given that, had the choice between a) doing 2 more years of school for very tenuous benefit and b) going directly into a job where entry level pays 1.5x+ the median household income in many states. And they chose a).

So I think the uncharitable interpretation is then that the person was afraid of entering the adult world or felt like they couldn't hack it.