If you shoot RAW and use a fairly recent Lightroom equivalent application that has good noise reduction, etc., you can still get the LX3 to shoot above its weight.
One thing in particular that I like about the LX3 is that the black and white mode is a surprisingly fun mode to shoot in. In fact, one novel way of using the LX3 in 2020 would be as a dedicated black and white camera.
But once in the hands of someone who knows how to process their photos, dedicated cameras win every single time.
Example: I can and have read books on my iPhone, but I find the result subpar compared to reading on Kindle or dead tree. Even though I technically completed my task, the experience of completing it wasn’t what I would’ve had on a single purpose device.
If you’re into photography, you’ll find a way to have your preferred camera on you more often. Pre-quarantine I carried mine daily.
If you’re not into photography, you’ll have your cell phone, and that’s ok too.
Indeed, I have a Lumix LX3 from 2008. The sensor in my smartphone is better, as are the quality of the photos in low-light, and the autofocus is much faster. But in good lighting conditions, the photos from the LX3 are much higher quality.