I agree that EMS education is lacking. Having said that, the education and skill level of Nurses is always massively, almost comically overstated on this forum. Its always been a head scratcher to me.
It is difficult to directly compare nursing and EMS education. Paramedics receive a brief, very focused but somewhat in-depth education that is meant to train them to do one thing only: get a critical patient from where you found them to the hospital, alive. That's pretty much it. Nursing education is much broader and less in-depth in any specific area. It is meant to train nurses to provide comprehensive care and support to a very broad range of patients in a broad range of settings. It is a better foundation for continued learning and specialization later on.
I don't know if the education of nurses is overstated on this forum or not, but there is a pretty big difference. You can still easily become a paramedic in 10 months of vo-tech style training that is based on textbooks written at a 10th grade reading comprehension level and only requires 9 hours or so a week in the classroom and 12 or so in clinical. I know some programs are better than that now, which of course is a good thing, but that's what my initial paramedic program was like and it still works pretty much the same way, as do many of the others that I'm familiar with. Two-year nursing programs are significantly broader and longer than that, and require actual college-level course work (albeit it lower-level). Even so, two-year programs have been judged by the nursing establishment to be undesirable in length and depth, hence the movement towards 4-year degree entry requirements that has been going on for some time now.
Nursing is one of the few jobs where someone with a 2 year degree associates degree from a community college can make close to six figures, and the starting pay is probably around 65,000 for someone with no experience.
Compensation is largely regional, but this is a bit misleading. An entry-level welder can make close to those numbers and much more with experience; it isn't hard to make that kind of money if you simply choose to enter a field with demand and are then willing to go where the money is. A paramedic working for a city or county in SoCal or the Pacific Northwest can make way more than a RN here in the rural southeast.
Paramedics around here start around $15/hr, which with the OT built into their (48hr/wk) schedules translates to about $40k/yr to start, and then they move up a little from there over a few years. They pretty much cap out in the mid $40s unless they work extra OT, which many do. It's not great money by any means, but cost of living around here is low, and lots of people who work full-time get by on less.
New grad nurses here start around $50k. They'll get up to about $55k, maybe close to $60k in a couple years, but that's about all they'll ever make aside from small annual increases if they stay in the same position. So the difference between what paramedics and RN's make around here is significant but not massive. Probably $10k-$15k or so, assuming the nurse stays in the same entry-level position. Keep in mind that most new grad nurses spent 3x as long in training (if they have a BSN) as compared to the new grad paramedics. It's fairly hard for a new grad ASN to get a good job in a hospital around here.
Some RN's do make quite a bit more than that, but these are generally folks who work in specialty areas where they spend quite a bit of time on call, AND had to go through quite a bit of additional training to get, which makes them more valuable.