Camera vs Phone (needs more bokeh)

So this is really something I'm interested in and want to document, and ideally to document over time by other people too.

There are two things here that I want to consider:

1. The best camera you have is the one that you have with you
   
2. Smartphone cameras are good enough
   
   

The simple hypothesis:

• There will be a time when phone cameras exceed the capability of cameras priced at less than the cost of the phone (even when buying 2nd hand camera equipment).
  
  

I don't actually believe that is true (it's all about the glass and light), but a lot of software developers do seem to believe that the difference can be overcome with software, so I reckon periodically documenting progress isn't a bad idea.

So the rule here is that the camera that you use to test cannot be a full DSLR, let's say that the entire camera must be comfortable in one hand, able to point and shoot within a couple of seconds, and weighs less than 1kg including glass (that's an upper limit, I expect most will weigh less)... and... the camera at the time of the test must cost less than the cost of the phone you're comparing with.

This is a simple: Are cheap cameras better than smartphones or vice versa, and when do those lines intersect and one beat the other?

For my test I give you:

• 2016 Nexus 6p (with famed camera re-implemented on the Google Pixel, uses HDR+ by default, most people prefer this camera/software than other smartphone stuff). Worth £280 on ebay
  
• 2011 Panasonic GX1 with prime 25mm f1.4 lens. Body worth £130 on eBay, lens worth £60 on eBay. Camera weighs 318g, lens 200g.
  
  

All photos in this album: https://goo.gl/photos/899XawEnjcocURsv7

Nexus 6p 12.2 MP 3024 × 4032 3.8 MB f/2 1/5000 4.67 mm ISO62

DMC-GX1 15.8 MP 4592 × 3448 7.7 MB f/2 1/4000 20 mm ISO160