I think it just depends on how you would use it (or if you would). Things I use my iPhone for (and DH uses his Android phone similarly):
1. As our phone. We have no landline so a good phone is important to us.
2. For texting. Yes, that can be done on a "regular" (aka dumb) phone but it is easier on a smartphone (IMHO).
3. Reading books. Today DH and I went out shopping. He was in a slow line at the store so I went back to the car and opened up a Kindle book on my phone and read.
4. Flashlight.
5. Compass
6. Level
7. Sync my Fitbit through Bluetooth on it.
8. Camera - I even have a new lens to make the camera better.
olloclip macro, telephoto, wide angle, fish-eye, and polarizing iPhone photo lenses
Yes, I have a "real" camera but I've found with this phone that it handles about 99% of my photo needs.
9. Upload photos and posts to Facebook (and read Facebook)
10. Keep recipes on Cook'n, my recipe program.
11. Look up calories and WW points for restaurants while I'm at the restaurant or if we decide while out to go somewhere.
12. Calculate WW points for food I look at in the grocery store.
13. Read the newspaper
14. Listen to music
15. Watch videos
16. Check the weather
17. Find my way using the map and GPS
18. Check the stock market
19. Buy things at auction on World of Warcraft
20. Provide my authenticator for my World of Warcraft account
21. Use Skype
22. Record what I eat on MyFitnessPal
23. Play games.
24. Use the calculator
25. Use it as a remote for my TV.
26. Take notes
27. Record and look up reminders
28. Use Twitter
29. Read this forum.
30. Make deposits to my bank
Hmm...need to go get some more apps....