As a MFT shooter notwithstanding my understanding of the convenience vs IQ tradeoff...setting the artistic aspects of photography aside...I am amazed at the ever downward spiraling relative standards of IQ set to defend MFT. If indeed MFT is "good enough" for most casual use relative to print and small screen media then with the advent of more sophisticated phone cameras where does that leave MFT?
First off, I'll say that I'm a fan of computational photography, and I think the phone manufacturers are doing really interesting things that are pushing photography further and faster than legitimate camera manufacturers. They have indeed replaced some of my MFT gear and I give no apologies for that.
For me, "real" cameras still allow me the flexibility and speed of use needed to capture the images I want. That means the body behavior is customizable in the way I need in terms of drive, AF algorithms, etc. They provide the range of lenses I need from ultrawide to extreme Tele. The handling is such that I can shoot for hours comfortably while getting consistent results.
Ultimately, quality is meaningless if I can't capture the shot I want, and MFT gear, for now, still allows me to do that better than any phone can for a lot of subjects.