I'd argue that cameras will become a very specialised tool, with smartphones the go & do everything majority. In some specific circumstances - at the very difficult types of, say, wildlife photography, or action / sports photography dedicated cameras optimised for that will probably always outperform the general type smartphones. In big film productions, in situations where reliability and where many different aspects need to play together - sound, light, etc. - dedicated, specialised tools will also always hold their own. Always been the case - in any industry dealing with technology.
I've just worked at a research institute - some of the scanners and devices there are definitely behind the curve on what is technologically possible compared to what a mass market approach could do - but they are in their niche, and small volumes of what is sold, so specific that they are still the best there is. GPS trackers for animal tracking, for example. Not even as accurate as a smartphone, maybe, but produced by two-three person teams for the needs of specific animals. Need to be small enough, light enough, or robust enough depending on each case. That's sort of where I think there'll always be an equivalent market niche for companies on the video / photography side. But that's not through mass market appeal.