Except it isn't a great camera. There's no zoom, which severely limits what you can do with the camera. Even the cheapest point-and-shoot cameras are a lot more capable than an iPhone. DSLRs leave them in the dust.
The notion that you don't need a separate camera to take great pictures is just plain wrong. In my experience, the need for reach is the norm, not the exception. You might occasionally get a great shot with a cell phone, but you'll get a lot of duds in between, and you'll miss the vast majority of potentially great pictures because you can't get close enough to get a great shot. And even if you can get close enough to take one shot, doing so will cause you to miss other shots.
For example, when shooting pics at a Mass last weekend, I shot photographs of the bishops at the altar, closeups and group shots of the musicians on one end of the gym, and closeups of the cantor at the ambo on the opposite side of the altar. I got all of those shots from the far corner of the gym with my DSLR, staying out of everybody's way, carefully avoiding being disruptive to the other worshippers. To do that with an iPhone would have required walking across in front of the front row of chairs in the middle of Mass and walking right up to the musicians, which is generally frowned upon....
I mean, I realize that advertising always puts the most positive spin on things, but this is a really grating ad campaign because it stretches reality so severely. It is my view that once you've used a real camera with a decent optical zoom and IS system, assuming you take the time to actually learn how to use the zoom, you'll never be satisfied with a cell phone again. You'll use it begrudgingly when you don't have anything else handy, but that's about the limit.
