And now Samsung also offers a phone sensor with 48 million tiny 0.8 micron photosites: 8000x6000, 6.4x4.8mm format which is 8mm diagonal, so-called 1/2":
https://news.samsung.com/global/samsung-introduces-two-new-0-8μm-isocell-image-sensors-to-the-smartphone-marketThe other one, the 32MP ISOCELL Bright GD1, seems to be about 6.5mm diagonal, 1/2.7" — a more typical phone sensor size.
If this 2x2 binning to 12MP [resp. 8MP] for low light and cropping for zoom works well, this "swarm of tiny pixels" might be a reasonable approach for pocketable cameras.
P. S. Both Sony and Samsung use a 4x4 CFA:
RRGG
RRGG
GGBB
GGBB
(Sony call this "Quad Bayer"; Samsung calls it "Tetracell")
So the sensors are in a sense only "12MP color, 48MP luminosity". I wonder how well this works in practice; standard Bayer CFAs already have lower color resolution than luminosity, but so far that gap seems to mesh fairly well with how our eyes work.