As someone who interviewed PhDs in a prior life, and is now getting a PhD, this is an excellent summary of the situation in the CS realm. I would add, though,

As someone who interviewed PhDs in a prior life, and is now getting a PhD, this is an excellent summary of the situation in the CS realm. I would add, though, that a lot of people in industry mistakenly believe that what the PhD provides is specialization. It is true that you end up with a specialized skill, but you also end up with the ability to ask important questions, cut through all the things you could do and decide what you should do, experience managing long-term projects, proposing work, managing people (undergrads, usually), and mentoring, just to name a few. So to industry folks out there who get occupationally sucpicious when interviewing a PhD ("just to make sure, are you comfortable not continuing your current research?") try asking a few questions like, "besides your research topic, what do you think you've gotten out of the last 6 years that will help you at this job". Yeah that's a softball question for an interview, but it will help them show you all the other things besides some obscure academic topic that they've learned.