We should appreciate how fast phone socs got in such small timeframe, because soon they won't improve as much. It's like with first computers. Their CPUs performance followed moore's law, but they started improving less and less. If you compared desktop cpus in the recent generations, you wouldn't see much difference.
Smartphones are still fighting in performance territory, but the gap is closing very fast between 500$ smartphone and 200$ one. Soon manufacturers will start fighting with features and cameras even more than they do now to make up for the price difference.
This means better smartphones ought to get cheaper and better in the future. I can't wait to see what future brings to us. I hope some company will revolutionize our portable devices, like apple did 10 years ago. When I speak of apple, I mean Steve Jobs apple and not the current one, no offense to apple fans.