Better to have every programmer learn to be an analyst. Practically any project could survive if the analyst was fired and the programmer had to pick up the slack, but the reverse is not true.
In big corporations the opposit might be true. Programming is outsourced and analysts are driving the decision-making (in the best case). The point with the programming skills stays, though. To me it seems there exists a whole corporate ecosystem with analysts who can't code and the managers around them who do not ask tough questions. It is even hard to get scored there if you can and want to code and generally to dig deeper, because it bothers them.