No, I didn't miss the point of the article, though I did think it was a pointless article (even if it was filled with beautiful pictures). It's never been a question that you can take great pictures with a limited camera. People have been doing art shows based on that premise before Apple released even the first iPhone, never mind the iPhone4. Heck... ever played with a pinhole camera before? You don't get much more limited than that!

I thought it was pretty clear that wasn't what Bruno was saying, though. He essentially said the same thing as you -- given the option of using a P&S camera, or a camera phone, the P&S camera will give a better result. It's the same thing you said; you can tell the difference between your iPhone pictures and a really expensive DSLR, and you'd be pissed if you couldn't. Same with a P&S vs. iPhone -- you can tell the difference in image quality. That's not to say you can't make an artistic choice of using one tool over the other, for the specific qualities that it gives.