I was considering making a similar thread after seeing all the hate against point and shoots in OP’s threads. While I don’t think I would buy a PowerShot 740 (for the price I’d rather a PowerShot G9X, and I currently own a G5X) it definitely still serves a purpose as a pretty compact super zoom. And definitely a huge step up over the iPhone, especially if you want something other than 24mm, 12mm, or 50mm.
Now, don’t get me wrong, I almost always prefer the ergonomics of my mirrorless. The lenses are better, the low-light capabilities are better, and the autofocus is better. But it also doesn’t fit into the front pocket of my running vest. And if it’s not accessible without taking the pack off, it may as well not be there as far as whether I’d actually use it. I think compared to a DSLR the only advantages of the P&S are size, weight, and price. If I could get a mirrorless ILC that fit in my pocket I’d probably drop the point and shoot. But the advantages over an iPhone are enormous, even if the iPhone does take great pictures. Zoom, sensor size (although the 740HS has the same sensor size as an iPhone), and ergonomics are the big ones. I can use a P&S with gloves on, I can use it without looking, and I can use it to quickly snap a picture (biggest complaint with my iPhone 12. I’m pretty sure my 6S could go from off to picture taken faster).
Here are just a couple shots taken with the point and shoot that I don’t think an iPhone could take:
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And yes I know this thread was originally about P&S vs DSLR. I think the answer there is obvious that there’s a time and place for a DSLR/MILC, and also plenty of time’s they‘re not necessary. But I also wanted to add that there’s a place for a P&S even compared to a smartphone camera.