Point and shoot cameras do have some kind of future if you consider the fact that none of the smartphones have zoom lenses (to the best of my knowledge), AND their image quality, on the average, is still way below the decent compacts with larger sensors (and I'm not speaking of the 1" sensors and larger - these will not be surpassed by the cellphones in the foreseeable future). Quite a few people I know are using decent dedicated compacts (not that $99 noname junk from the convenience store, of course) as a carry anywhere camera (though many have switched to µ4/3 for that purpose). The likes of Sony RX series, Panasonic LX and others are just a separate market from the smartphones. I would love to have something like a Sony RX100 Mark 4 or Panasonic LX100... The aforementioned $99 junk P&S cameras... well, if they're going the way of the dinosaur, good riddance. 
By the way, Southerncross has a very valid point... the market is saturated, the evolution has slowed and now shows few radical leaps - just like it did with personal computers, so there's often very little incentive to upgrade. I'm typing this on a laptop made in 2007; my main camera is a 2009 model and I'm not inclined to upgrade it in any foreseeable future - unless, of course, I happen (God forbid!) to break it, lose it, or have it stolen. Then again, I'm buying a lot of equipment used (certainly the lenses, but some of the cameras as well, including this present one) so I'm not counted in that tally (over 15 years, I've bought 10 cameras - 3 P&S, 5 DSLR and 2 mirrorless, two of which - incidentally, my main bodies, both Canon 1D series, were used). Three of these cameras (2 P&S, 1 DSLR, 2 mirrorless) have been given away as gifts to various womenpeople of significance.
By the way, Southerncross has a very valid point... the market is saturated, the evolution has slowed and now shows few radical leaps - just like it did with personal computers, so there's often very little incentive to upgrade. I'm typing this on a laptop made in 2007; my main camera is a 2009 model and I'm not inclined to upgrade it in any foreseeable future - unless, of course, I happen (God forbid!) to break it, lose it, or have it stolen. Then again, I'm buying a lot of equipment used (certainly the lenses, but some of the cameras as well, including this present one) so I'm not counted in that tally (over 15 years, I've bought 10 cameras - 3 P&S, 5 DSLR and 2 mirrorless, two of which - incidentally, my main bodies, both Canon 1D series, were used). Three of these cameras (2 P&S, 1 DSLR, 2 mirrorless) have been given away as gifts to various womenpeople of significance.