I don't actually believe smart-phones have done much to democratize computing power because phones don't give you much control over computing power. You can't develop software on a phone using a phone. And frankly the vast majority of phones have way more computing power than is actually used.

On a related point, the push to the cloud is befuddling when everyone has a phone with "free" (from the developer's point of view) computing power sitting there unused. Everyone's wasting money on centralizing compute despite more distributed compute being available than ever before.