The term "coder" is a demeaning one that is solely used to denigrate the contributions of product developers.
If you are the only product developer at a company, you are not a "coder". The correct title would be Director of Product Development, or VP of Software Engineering.
Assuming we're talking a typical Silicon Valley startup, then you're incorrect.
VCs rarely fund a business person without a technical person as part of the package. That person is CTO or VP Eng. They, having committed and worked before money, will be a co-founder and receive a fair bit of equity.
A first employee is somebody who comes after funding. They are hired to help build. They may have a variety of skills that will come in handy later. But early on, they, like the technical cofounder, are their to code, code, code.
If you are the only product developer at a company, you are not a "coder". The correct title would be Director of Product Development, or VP of Software Engineering.