Me too but bought into this system when I needed reach and didn't want Fuji 100-400.
Sod IQ then eh.....
But people nowadays (myself included) feel lost without their mobiles. A phone can be slipped into a pocket. A camera generally can't. Traditionally it was slung round you neck. Somehow that looks slighlly eccentric nowadays, unless you're a tourist :) Do people need the resolution of cameras? The first thing you're likely to do is reduce it in size, for manipulation and even more if you're going to email it. Ok, you can select an area with only a small reduction in quality. You can of course completely manually control aperture and speed and ISO, but these features are becoming available on phone cameras, as are interchangable lens.
I'm a Fuji user but I love the tiny size of the Olympus kit!