It's all kind of relative. I've looked at a lot of shootout review/comparisons online of all the well-known smartphone cameras, and it's not like there's a drastic difference between them (with the exception of highly specialized models like the high-end Nokia's). To me, the relatively minor differences between the smartphone cameras are all still within the same range of performance/quality, since I'm used to the quality of professional DSLR or high-end compact cameras. To really get a significant jump in performance/quality, smartphone cameras would need to go up a whole grade in terms of camera hardware and adopt high-end compact camera level of technology.
Remember, it's only recently that smartphones started to place more emphasis on cameras, and as businesses, they need to pace themselves in order to have a sensible product cycle and long-term business strategy. As a consumer, I'd love to have cutting-edge science-fiction technology in my grubby little paws right now, but I can totally understand where they're coming from, and I think if most of us were put in the position to make multi-million dollar decisions that are highly complex and have considerable consequences, we'd probably make very similar decisions. We often think we'd make smarter decisions when looking at things from the sideline, but it's only because we don't know all the complex issues that decision makers in these companies have to deal with.
I try to remind myself that these are supposed to be phones originally. Then they became small computers with crappy cameras. Now they are small computers that also makes phone calls and have decent cameras. We're definitely moving forward, and in the grand scheme of things, our technological advances are already at the speed of science-fiction in some ways.
The 2014 CES showed lots of new products for 4K resolution like TV's and camcorders, and they are all very expensive. The cheapest 4K camcorder was something like $2,000. The fact that the Noe 3 shoots 4K at its price point, is pretty damn remarkable. Like I have said before, Samsung is placing emphasis in areas that they deem more important, and apparently, they had the foresight to see the 4K evolution becoming relevant very soon, and decided to become a market leader in that area. I don't know if I'd have made the same decision if I was their CEO, but I'm not going to assume I know better, because they are the experts, not me, and they have their reasons, even if I'm not aware of the various factors they had to consider.