Camera phones will blow for a long time to come but for most they're fine
I use my camera phone for one thing, eBay item photos and that's it.
Using a camera phone with the desire for serious photos is foolhardy. Sure capture a fleeting moment if you have nothing else on you.
For everything else, my M2 is always with me. That said whilst you can argue camera phones (and by extension digital) has 'democratised' photography by bringing it to the masses, and made it more affordable for those whom 36 frames on a roll 135 lasted a year. And that's a good thing really even though inside my snobbery is thinking "Egh, the noise, the harsh nasty thing called a flash which is just some LEDs and the focus, well there is none!" -- but the person who took it seems to be happy with the drunken stupor they have captured or holiday moment and there's no harm in that.
If you want to take decent photos you need to buy decent equipment, film or digital. There's little point trying to become a landscape photographer with a Olympus Camedia 1.3MP digicam from 1999 or a fallit to pieces Chinon loaded with Boots consumer grade ISO 200 35mm. If you want to be serious about it you will be investing in a camera, not a phone with a camera.
If you want snaps, a camera phone probably does suffice for the average joe whether us photography snobs like it or not. it's not like the mainstream is up late at night selenium toning a fibre based print from a recently souped roll of FP4 (which is something I sometimes do to make myself happy with a photo, i.e. it's work, others may spend hours processing in Lightroom) -- the majority of camera phone users have already whacked them up on Facebook or in an email, maybe taken them to Jessops for some 6x4s and the rest have been looked at on that 2" x 1.5" screen on the phone itself down the pub and they're happy.