dual12: "clearly the kind of customer a low end DSLR is aimed at now uses their smartphone far more than they use a DSLR."
Rubbish! If they'd rather use a smartphone, they're NOT the target market for a dslr.
Not really, I have a DSLR with many many lenses but I find myself reaching for my iPhone more often. In fact, I no longer carry my DSLR around and take that out only when I'm being paid for the pictures.
How many Nikon fanatics would love to have a Nikon branded phone? I am sure a phone with a Nikon lens and the Nikon logo on it would sell among the Nikon crowd.