I'm genuinely intrigued, because I seethe with rage just trying to use the keyboard and guestures on smartphones and I can't really imagine trying to actually code or write or sketch on it.
With zero video editing experience, I recently shot and edited a 7 minute video of myself playing guitar, entirely on my iPhone. I was pretty surprised how well it worked. Yeah there were some UI warts (editing text, like you say...), and I wouldn't want to work that way for any serious work, but it really did lower the barrier for a complete noob in a way that finding/buying some PC video editing suite couldn't.
You say you wouldn't want to use this simplified phone-based video editing tools for serious work, but there is an entire industry's worth of livelihoods being made on TikTok and Instagram using these very editing tools. Not saying this to knock down your point or anything, just highlighting the fact that these tools have actually become good enough (sure, no one is editing feature-length Hollywood movies using them) to be qualified as "serious work".
Is it their fault? The software tries every trick in the book (and some new ones) to steal your attention.
I disagree about the creation utility from a quality perspective, lack of ergonomics while filming, bad mics, etc. But there's no question the availability of the device is astonishing.
The old addage: "the best camera is the one you have with you".
I actually bought cheap modern camcoder and it's obvious that it's descendant of old line of purpose made devices. It does one job but does it very well.
When I setup a new iPhone, I do not think I am forced to expose myself to any social stuff other than SMS/MMS/Phone calls. And I think those can be disabled too, or at least the notifications.