The "CS focused people" that you typically hear about usually have Ph.D.s because you usually hear about (and from) people doing fancy new things. There are many other "CS focused people" out there just keeping the lights on, or rather keeping the backbone routers from being swamped under their own routing tables.
You know that person who you always go to when your program malfunctions? Or the high level engineer at your company who also seems to know how to diagnose a site incident or other strange software problem? What about the technical founder who leads a startup to do something new and extraordinary? Or how about the person who wrote your framework/language of choice? These are people who understand CS fundamentals, irrespective of whether they have a formal CS degree.