I can't speak for other fields, but this does seem true of computer science. I worked in a university lab for a couple years and knew many PhD students, and most of them were most interested in leveraging the PhD to make more money in industry.

I think the issue, should that be an issue, is in industry setting unrealistic requirements for education. There certainly are some jobs where the work is true research and a PhD can be a good indication of experience in that, but a great many PhD-locked careers are not really so research oriented. Requiring a PhD to demonstrate expertise in something that makes up 10% of a job is excessive and creates this system where people do 4-5 year PhD programs just to check off a box for the resume filter.