I would bet the most famous photos being shot these days are on phones. That old adage, "F8 and be there" will never change. It's the eye behind the lens that is the most important.

I'll likely upgrade my old P&S which I used for a few years(I'm surprised I no longer take it with me). However, it may well be a smart phone that becomes that P&S for me.

I found my best shots with a P&S were more by sense and shot from the hip or from an extended arm giving an angle that was impossible through a view finder. Still, those odd shots are the result of your (minds)eye to see the shot.

Onne Van DerWhal would have made a much better image of this scene I took years ago. But would Onne have been able to do that, while steering the boat? With shots like this, I would hold the P&S as far away from the boat as I could reach, with my pinky down to feel the wave tops, while holding the wheel.