Yes, it won't give you "DSLR quality". However, I think the important question is when this no longer matters. A modern compact can compete with an old DSLR. The first DSLR's didn't even have decent performance (according to today's standards) at ISO 800! It's not a fair comparison to make though, since a modern compact should be compared to a modern DSLR, where they, of course, still lag behind a lot.
However we'll get to a stage where the relative photo quality is of little interest (i.e. compact vs DSLR differences), and the absolute photo quality from a viewer's perspective matters more and more (i.e. how does this well composed photo look; I'm not going to tell you which camera I used).
The smartphone cameras have been eating into compact camera profits for years already and they're winning. I think they're now about to start eating budget DSLR profits.
There are some areas they won't be able to touch though; things like pro quality resolution, dynamic range, and subject isolation. These are directly related to things like sensor areas and lens element sizes. However I think that in 5-10 years, we'll have entered a stage where we have smartphone cameras for amateurs and even prosumers, and compact mirrorless cameras for professionals. I think the amateur DSLR segment will die as well and news like these are the first signs of it. Those DSLR's that people bought to "get better photos than from my compact" but not "to match my composition and portraiture skills as a professional photographer". The recent DSLR trend since 5 years back seems to be heavily influenced by amateur users purchasing them and I think that's where we're going to see changes.
How long could you film in 4K, 3 minutes ?
