I gave up on P&S ~ 17 years ago.
The first digital ones were good, but, when you're trying to take photos of your growing kids, and half the photos are blurry/out of focus - terrible shutter lag and focusing issues were the reasons. What I did like was that you could get a underwater housing (up to 100ft) for like $125 and I used that a lot to video underwater snorkeling and diving ...
I've had a SLR since the late 70s, my last film one wa the F100 in late 90s, and then Canon came out with the D30 and I've been through several bodies, currently a 6DII with several L lenses.
When I get out I do take my DSLR and you've all seen some of my photos here, nothing today beats real glass and won't for the foreseeable future ...
My 2nd camera is my iPhone (11ProMax), quite impressive where phones have come from, and some of my photos here are from that. The 2 things where the iPhone is currently lagging P&S/DSLRs in my mind: 1. sensor size (NOT resolution) and 2. optical zoom. iPhone currently has 3 fixed zoom setting/lenses (.5, 1, 2 or 2.5), in-between those lenses is computation, not optical zoom and that's fine, for now. Further improvements will come, no doubt but I cannot see an iPhone reaching anywhere close to my favorite lens, the 100-400 or
@Dockland 's 600, my guess is not in my lifetime.
Having said all of that, and as others have said, it does NOT matter which camera type you use, it's about capturing the moment, the scene. nothing else really matters. And some people are happy with "lesser quality" photos and others are "perfectionists". To each their own and good that everyone is different ...