Here's my biggest complaint with this debate - people are confusing literal with metaphorical. They make the analogy of the unbreakable safe. Encryption isn't that. You can still recover the physical phone and all of the storage chips on it. That the patterns of bits in the chips make up some unrecognizable utterance is seemingly immaterial. I could write gibberish in my journal at home if I wanted to, and I think we…
The other side of this is that enshrining encryption as something that police can't compel you to help with just creates a huge loophole for hiding incriminating documents. You can go to jail for destroying evidence, why would encrypting the data and refusing to provide the password or deleting the key be any different?
Specifically encrypting incriminating data after you have evidence of a crime in an effort to cover it up should be treated as the equivalent of shredding documents. (Assuming, of course, they can prove it, just as they have to prove that you had the documents in question prior to destroying them in order to prosecute you for destroying evidence.)
That's not in any way the same thing as having your data encrypted and refusing to decrypt it.