>>3977152I think it's safe to say that a good smartphone camera can accomplish 90% of what a pocketable point & shoot camera can accomplish, to 90% of the result. I have seen photos taken with a good smartphone camera, taken under ideal conditions, printed up to 8"x10" and still look very good.
The best pocketable point & shoot cameras are still going to be able to get a better result, as well as performing a little better under adverse conditions, and there is no substitute for an optical zoom; however, most people and most situations won't call for these qualities. There is also the fact that your smartphone is *always* with you, whereas even the smallest point & shoot cameras are still a separate device you might not always have. The problem is, if you're going to go out of your way to carry a separate camera, why stop at a p&s? Why not get an MFT or APS-C mirrorless with retractable lens?