This applies only if you assume that you are not willing to spend more on a phone with a better camera and a lot of people do. I have friends who decided to buy an iPhone over way cheaper Android phones in the past, because "the iPhone camera was so much better". Funny enough, the differences were obviously negligible when compared with any actual camera.

And upgrade frequency. You might give your old iPhone another year or two if the phone isn’t your limiting factor for photo quality.