This failure was a decade, if not longer, in the making, pretty much since smartphones started replacing DSLRs for travel photos for at least some people. But I'm sure Canon's leaders laughed it off until now.
While smartphones have decimated the smaller portable camera markets, there is still a large market for larger sensor cameras (APS-C, Full Frame, Medium Format, Etc.) Canon specifically has fallen drastically behind their competition in those spaces, allowing Sony to decimate them when it comes to features/performance and cost. Canon's current line up of cameras are missing features that their competitors have had fo…
Photos on best phone sensors look OKish under ideal conditions, and if you don't need any zoom (subpar additional cameras on recent phones are pretty bad so far). Add any zoom, less than ideal light, faster moving objects and even phone sensors rated in DxO Mark over 100 are simply not good enough (I have one of those). Forget night at all.
Yes its enough to clearly see where you are and what you do, but that's about it and any photo aesthetics are often simply not there. Phones of course have huge advantage of almost always being there, but that's another topic. Some of us want to capture important things in life in ways that will stand the test of time better.