I only know a few hundred Data Scientists and (a) you don't need a PhD and (b) they do quite a bit of coding. But I suppose if you work in a more research capacity that might be flipped.

And personally I would be wary of any company that insists on a PhD since it's a clear sign to me that they are clueless. Since great Data Scientists are those with strong EQ and communication skills not those they know the most algorithms.