That works if you want to carry a phone and wallet in the jacket, but I have never wanted to carry either in my rain jacket. To me the rain jacket is typically something that is not used every day (some trips not at all) and when it is will be probably taken on and off frequently as conditions change. Also when I go inside I am likely to take it off and hang it.

I have been rained on a bit most tours, but have almost never worn a rain jacket all day. When used, it typically goes on for an hour or two and then is taken off. All that makes rain jacket pockets a poor place to carry stuff at least in my typical usage. So, for me, pockets just add cost and a bit of weight with no real increase in functionality. I'd just as soon have none.

As far as pocket stuff goes...
I typically don't carry a wallet on tour. I trim down to a drivers license, health insurance card, a couple credit cards, a debit card, and a bit of cash. That all takes up almost no space in the 1 quart ziploc bag that holds my phone. It goes in a jersey pocket if I wear a jersey, if not it will be in a small light backpack or a handlebar bag. That ziploc doesn't even need to be very accessible when on the bike since I typically turn the phone off all day.

At home I carry a pocket knife, but on tour any knife is usually packed away.

The other pocket item folks sometimes list is keys. I typically either take no keys or only take one key and pack it away since I won't need it until I am either back to my car or back home.