G7X Mark III vs Smartphone

I think this ultimately depends on a number of factors.

1) the types of photographs you take

2) your ability as a photographer

3) what you plan on doing with your photographs

As an example, if someone exclusively takes pictures of family at family gatherings and the odd scenery picture in the daytime, isn't that familiar with handling a camera (e.g. they're not that familiar with how to compose a shot and just shoot from the hip, so to speak), doesn't plan on post-processing, and only plans on sharing photographs with friends and families on their phone, then there is absolutely no reason to get a camera. A smartphone will perform very well in these types of situations and, very often, will look better than if you took the same picture from a camera.

If you plan on taking more difficult shots, say in low light, action shots, like of moving kids or pets or sports, portraiture, or you plan on blowing them up for prints, or whatever, then yes a camera will definitely be the better option.

Just keep in mind though, that if you invest in a camera, you also need to invest in learning how to use that camera. Don't buy an expensive camera and expect that the pictures that come straight out of it as jpegs will turn out beautifully. Practice your composure, learn what all the settings do, and perhaps get a free piece of software from the internet and learn how to adjust your pictures to make them look better.