I'm a frequent lurker, seldom poster - and have a doctorate in Biology - trust me, it doesn't mean anything other than I know a lot about a very specific topic. And that I stayed on course through a 5-year degree (and then a 5 year postdoctoral fellowship).

Trust me, outside of their own specific area of expertise, Ph.D.s aren't necessarily "smarter" than folks with any other degree (BS, MS). There is frequently an inverse correlation between level of education and common sense, and the ability to do "real-world stuff" is usually pretty low.