I currently own an iPhone X (and I shortly owned an iPhone 8 Plus), a Sony DSC-RX100M3 and a Canon DSLR with several lenses, including a nice 70-200 f/4L.
Since having the iPhone 8 Plus I went on 2 short city vacations taking the Sony RX100 with me but never using it. It was in my backpack as a backup - but I took all the pictures with the iPhone.
What I noticed is that while objectively the RX100 has better picture quality (better lens, better sensor), at the end it's much easier to use the iPhone to take *quick and usable* pictures. I'm especially thinking about the software features that are integrated in iOS, which allow you to take photos in difficult lighting situations (backlight etc) without thinking and without spending several seconds with manual adjustments.
What I've found to be really amazing is how quickly Auto HDR reacts on the iPhone 8 Plus and iPhone X. I'm able to take pictures in situations that I'd have always considered to be no-go/taboo (example: a building on a city square with the sun shining right on its back) and they turn out to be usable if not good. With the RX100, forget it: you either have a blown out sky or a black building.
So at the end it boils down to software for me, at least when I'm on vacations or short trips. If Sony, Canon et al manage to come out with a camera with the same kind of Auto HDR like iOS, I might consider swapping my RX100 for a new P&S. But AFAIK that doesn't exist yet. If I'm wrong, feel free to correct me.
Oh, and the DSLR? I end up using it only for aviation photography. But I'd never lug it with me on vacation, it's simply too bulky and heavy.