I really doubt the camera is nearly as good as my DLSR, which is a few years old at this point, if nothing else because the lens is so much smaller in a phone. Second I have several (well two) lenses without optical zoom (40 and 50mm), which can achieve really low f-stops.

I wouldn't be surprised if a phone is better at reaction time, and possible for compensating for shaky hand moments. In the first case a DSLR has a mirror that has to be moved mechanically, in the second case the smart phone has much more processor power (and presumably better sensors).

And you definitely right that a better phone tend to mean a better camera.