Do you think the advances in camera technology will eventually mean that smartphones will replace specialized stand-alone cameras like DSLRs?
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For the casual snapper, yes. Its just easier.
Not going to happen.
1) People like putting different lenses on their cameras.
2) Image sensors in DSLRs are too expensive to justify their installation in a phone.
3) They don't have enough space to install cooling fans to increase the signal to noise ratio for long exposures.
If you look at how much phone cameras improved from the 0.1mp 352x288 it started out with then I'd say it will keep on eating away it the dedicated camera market.
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Higher specs do not necessarily mean better quality pictures.