Yes, it would be a damned shame that these portable computers that fit in our pockets and allow us to take clear, stabilized photos among numerous other features have a quarter smidgen of protrusion to accommodate a better camera while also being a thinner device all around.
I hope Apple would never force us to endure such a horrible reality.
I take it you've never used a phone with a protruding camera before? I think former HTC One X owners would disagree with you, it's a scuff magnet.