There's no doubt in my mind and being rational and real, that the cell phone has replaced the P&S camera (and pretty much everything else) for the general public. The claims that the cell phone has replaced the DSLR are a big stretch, because professionals, semi and hobbyists still prefer using cameras, not phones. We want control and the ability to create.
People who want a photo, sure thing, a p[hone will do. Just like a Brownie or Instamatic or Polaroid, or point and shoot, pocket camera. Just before digital there were some pretty interesting and capable 35mm pocket cameras. Olympus made the Trip 35 which was very basic and produced nice images.
The mirrorless camera has replaced the DSLR!
That debate was about speed, focus, quality and all kinds of questions about meeting the demands. Well mirrorless has surpassed and exceeded all limitations and also most DSLRs.
Here's my opinion of the phone camera, it's "Good Enough" and that's why people will use it. Hardly anyone makes prints anymore, and most images are shared online, digital. They don't need to be 50MP for that. They just need to be Good Enough.
Personal opinion once again as it seems people have different demands and requirements and standards. You can't make a tiny sensor camera, using a little thumbtack plastic lens, and process the heck out of it, that will make an image that will be better than a larger sensor P&S. If the trick is how smart the phone is, why not use the same technology on a pocket camera? It would be better then as well?
This is ignoring, bridge cameras, compacts, and things like the EOS-M and now the mirrorless which are superior in all ways. The phone images being as good as a camera image is like drinking the Kool-Aid.
