Ignoring all you knuckleheads who can't get over an obviously piss pour illustration...that's hardly the point here.
The periscope lens design is perfect for a thin device like a phone. If Apple can get a manufacturer on board and get it built to quality and scale, and therefore price, they could have a great new thing in the phone world...maybe not exclusive since Samsung and LG have the ability to do one as well. But imagine an iPhone with a 10-12x optical zoom, digitally bumped to 30-40x...that's an interesting little camera. And if it reduces the bump on the back? That's a winner (although what will all the wags have to gripe about if they remove the bump?)
The key thing to remember is Apple's manufacturing lead time. They are already lining up mass production for parts on the iPhone 13 for release in 2021, so this camera, if we ever see something like it, is AT BEST slotted for the iPhone 14 in 2022. Any sort of hiccup in design, patent wars or mass production and it would slide it to 2023. That's the way it works when you need to produce millions and millions of something.
So keep making your goofy periscope jokes...and then transition into the obligatory "I won't buy it, it's too expensive already." jabs....and then go back to checking Tik Tok on your Android...