Are we in danger of adding too many things into put cameras?
Mobile phones have now become music centres, cameras, sat navs, and heaven knows what else. The cost? phones are now nearly back to the size of the old "bricks" and have a battery life of a few hours. My old Nokia used to go 4 days no problem whan it was just a phone, now I'm carrying a spare battery to get through a day.
Personally I don't want or need my camera to be a gps/wi-fi/pc that makes the tea in the morning. I'd settle for better high iso, and perhaps I'm clutching at straws but how about some built in memory? maybe 64gb and have it roll over the last 64gbs of pic, certainly cheaper than a second card slot.
The size of phones isn't the fault of what is stuffed in them, but rather the fault of usability. Just think of how much smaller the iPhone 5s is compared to the larger phones.
Even more so with say the 4s. It does everything the much bigger phones do, albeit with a smaller screen. Though newer phones are a tad thinner.
The other thing to think about that even the big phones are tiny compared to the things they replace. Also it is instructive to to not think of them as phones. From my point of view, it's a computer that fits in my pocket that I can also make phone calls with. It's also a dj system, a notebook, a pocket camera, a processing lab an alarm clock, an atlas, a calendar, a game centre, etc, etc.
This flexibility and power is why they are so very popular.
BTW The only reason an old Nokia phone lasted longer is because it couldn't do very much.
Built in rolling memory is an interesting idea from a backup point of view. It would need to be rather large though, because people who would really need such things may be shooting for days at a time.