Wrong. Usually employers look for someone to get the frickin job done without rethinking the problem. Classic example right now: I have PhD in Strategic Planning telling me to make the algorithm calculate the Economic Order Quantity when creating the Purchase Order. The Buyer immediately gave me 4 reasons why that will never work in the real world: the vendor will have to interrupt set-ups for plan changes, the bank will never approve that line of credit, the rev level may change before the end of the run, and oh, by the way, that many won't fit on the truck.
"...trying to get a plain ol’ developer position..."
You have an attitude problem. There's nothing "plain ol'" about what we do every day. While you were busy in your ivory tower for 8 years, someone had to keep the world moving.
"companies want the 20 year-olds to code quick and turn out an app with a 6-month lifetime"
On what planet? You were obviously too busy in college to actually find out what really goes on in the real world.
"6-8 years in graduate school under constant stress torn your ego into to pieces"
Poor baby. Get a job. Feed, clothe, and shelter a family. Deliver something every day to someone who is depending on you. For those of us who have been doing this for years, earning a PhD sounds like a vacation.