Not sure about that. Take, for example, skiing, snowboarding, any winter sport, swimming etc. All of these aren't ideal conditions for LCD touch screens. My skiing pics are mostly taken blindly, as there is no way I can make out anything but washed out shadows on the LCD of my rugged pocket Nikon (AW100). This camera also happens to have glove friendly buttons. Smartphones will never have these, and shouldn't either as they are bulky."Customers no longer need to carry a bulky camera around their neck"
The bulky cameras are most of the time dSLR cameras and in no way can a, "smartphone packing high-resolution" replace it. It can however replace most point and shoot cameras.