I agree, and I would go onto say that the day-to-day functioning of a PsyD and a PhD can vary greatly.
The PsyD's practitioner-scholar (or Vail) model does not require students to undergo the same research training that the PhD's scientist-practitioner (or Boulder) model does. This makes the clinical psychology PhD a much more versatile degree than the PsyD.
Also, most reputable PhD programs will offer students funding, which cuts down on the costs of graduate school and makes it possible to graduate with little to no debt. There are countless threads on SDN, which discuss how much reimbursement rates have been reduced over the past several years, and the plight of unpaid internships/post-docs, etc., so having 200k+ in loans while also making <40k/year is a recipe for disaster. This also keeps cohort sizes down and ensures that you will be receiving a solid education from your program. Others in this thread have also mentioned that, on average, PhD students receive more clinical hours/experience than PsyD students, so it's tough to even make the argument that the PsyD is a better route for those interested in only practicing psychology.
This being said there are some competitive PsyD programs (Baylor, Rutergs, other university-based programs, etc.), and there are some crappy PhD programs (Alliant, Argosy, other FSPS, etc.). Given the issues facing clinical psychology, I would only recommend pursuing a doctoral degree to someone interested in attaining a PhD and who is interested in research and/or academia in addition to clinical work, otherwise I would suggest you pursue a licensable masters degree. To my knowledge, there are many different things that clinical psych PhD's can do that PsyD's cannot, but there isn't really anything a PsyD can do that a PhD can't.