Model Based Systems Engineering (MBSE) has been around for decades and has enjoyed a considerable amount of success and acceptance in industry and academia. However, MBSE is not without its challenges, particularly with respect to its practical application to large scale system development. As we research solutions to these open MBSE challenges, it is important for us to evaluate the state of MBSE based on how much system complexity it reduces relative to how much complexity it adds to the system development process itself. This interactive virtual panel features leading MBSE experts from industry, academia and the government discussing this and other issues. Using real-world experience, backed by data artifacts and experiments from the research and application domains documented in the SPRUCE portal and elsewhere, the panelists will present their points of view and wrap up with an evaluation of the state of the MBSE practice and actionable ideas that you can start implementing today.