Earlier quoted context omitted.
My ancient Canon Rebel camera, I think a T3i, takes stunningly detailed photos against even my iPhone 15 Pro. But, I never have my Canon and it's too bulky to carry around everyday. I do carry my iPhone everywhere I go. And so, the capabilities of my iPhone camera are more important. I imagine this is the same for the overwhelming majority of people.
Having said that you also have the midway option with large sensor compact cameras. A ricoh GR III/IV with an APS-C sensor is heavier than a smartphone but not overly so and more compact as it actually fit a pocket. A Canon G9X is even lighter with a 1" sensor.
People not gonna let their phone at home and carry the camera only. Having separate camera means you have to carry 2 devices at the same time.