Hi,
I'm about to graduate from a (non-US) master with a strong emphasis on theoretical stuffs (automata, logic, type theory and so on) and a pinch of ml. The topics were fascinating for me until recently when I had to make a decision on a tcs phd offer and realized that it potentially causes a career suicide given that
1. I will probably never get a Turing or become Gödel and, somehow consequently, have no motivation to transform my interests in researches to interests in building a career as a researcher.
2. I got zero experience in the industry and will remain more or less so until finishing this phd in my 30, which potentially confines me within the highly competitive academia. I was stupid enough to believe that the only hiring bar for FAANG and alike is the elementary icpc stuff and whoever played with serious algorithms and a handful of languages and tools can pass it.
3. People are practically re-defining cs := machine learning and cs_why_doing_it := cs, which used to make me cringe. Now I start to agree on them since I find the latter one more like stuffed with random adult toys crafted by theories with few intrinsic values in it apart from letting academics pleasing each other, instead of a tiny brick on the holy road towards the discovery of logic and nature like I used to religiously believe.
But still,
1. It's a phd and phd is a thing.
2. I don't hate the topic and there are still reasonable amount of connections with the industry (focused however still only on the most formal aspects).
3. It's corona time and I could end up with nothing if not accepting this offer on time.
4. I could always quit, though not sure if it's a good idea.
I'll wholeheartedly appreciate it if someone could forgive my ignorance and save me from a tangible mental breakdown with any advice.
All things equal, it's generally good to give yourself options. If you've never experienced working in industry, what if you got a job in industry for a few years (ideally at a few different organisations, since there's a lot of variability), to see how you found it? Getting a broader range of experience may help give clarity.
If you're concerned about being left without something to do in the short term, what's the harm in starting something but keeping actively looking for other better opportunities in a fraction of your time? If you find a better deal you can drop what you're doing and switch. I used to work for a small business that took on a few applied math PhD interns, one of the interns found the commercial side of things much more engaging and dropped their PhD to switch to work full time. Conversely there were other employees who switched from full-time work to part time so they could pursue masters or PhDs.