No, it does not. A good person can have a PhD or merely street smarts. So can a complete jerk.
I've met numerous medical doctors who were complete idiots, and some who were real sweethearts.
For some, the title goes to their head (ego). For some, getting a medical degree means big bucks, and that shows where their priorities are. Look at the Pharmaceuticals industry. They're not in the business to cure people, but to "maintain" their illness. What looks better on the bottom line, quick cures or lots of revenue from people who depend on a drug for the rest of their unnatural lives? PhD's work on projects like that, bless them!
Some people with titles "think" they are better, but that automatically --- automatically! --- gives them the opposite effect. Like the great teacher said, those who are first (in ego, perhaps?) will be last.
Just think of your own idea of what makes a hero. For me this is humility, generosity, selflessness and responsibility. This has nothing to do with a piece of paper.