To me, when I look at an applicants PIC time I'm not gauging how good a stick they are. I'm gauging how much decision making time they have. Total time steers me towards how much stick and rudder they have and I can further break that down by aircraft.
Honestly, after 500 hours or so it's just proficiency. But experience takes time to build. Two pilots, both with 5,000 hours. One has 500 PIC and the other has 4,000 PIC, unless the 2nd guy has something crazy in his logbook I'm going to lean towards him.
Also, the stick and rudder thing is why many companies throw you in a sim before the offer is made. But honestly, most people can fly just fine. It's really the decision making capability and the answer to 'can we get along with you' that employers are looking for.
Regardless, PIC should, IMO, reflect how much decision making time you have...as a qualified pilot. So, by that logic, safety pilot is out and CFI is in.