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For everyday people yes ,but for people who want a slight bit more control or just want a dedicated camera I really don't think so. Sure the image quality would be about the same as a smartphone but there's probably some people who'd prefer to use a dedicated camera to take snapshits of their pets, family and what not. For people who are more into photography this is an obvious yes, something like the Ricoh GR II will blow any smartphone image out of the water, even film point and shoots will generally take better images than a smartphone but everyday people while flock to there iPhone XXXX any day over any of these options.
>pic related
>taken with an Olympus XA3