Is it true that applicants who haven't completed extensive coursework are looked down upon in academia?

Like those who have completed 3-4 years research-based PhDs with very little coursework (as is the case in Australia).

That's what my university told me. Hence, they are offering a new "integrated PhD" program with 1 extra year of coursework in the form of a masters degree.

In australia, traditionally, you do what's called an honours year aftee your degree and if you score really well you could go straight to a 3-4 year research-based PhE.

My field is econometrics and statistics