Bah! With a phone camera, it's not point-n-shoot but point-n-pray. In the time it takes the camera in my phone to let me get the zoom set to what I want and then focus on the subject, my point-n-shoot camera has been powered on and has already let me take several shots that are, you know, actually in focus. Especially if I'm indoors. I'm not a big user of flash unless I can adjust the output -- most camera's flash units are too "hot" (IMHO) and overexpose the subjects -- and I've yet to see a phone camera with that feature. My phone's camera is all but useless for taking sharp photos unless the subject is lit by the noon day sun and then it's nearly impossible to see the subject on the screen with all the ambient light. The resulting photos look in-focus on the camera but when I view them on my computer I'm often left wondering "what the heck were you focusing on?". Nothing looks really sharply in-focus. By-product of the crummy optics, probably.
If I know I'm going some place where I'll likely want to take good photos I'll take my DSLR. If the locale isn't exactly camera friendly, I'll slip the point-n-shoot into my pocket. As an absolute last resort I'll use the phone's camera but I find its photos barely passable.
You're right about it being about having the camera on you. Back in the film days, folks would often keep a smallish 35mm with them at all times. Far easier to whip out that little Rollei than dragging the big Nikon or Canon out of the camera bag in the back seat.