This is often called HDR.
The issue with combining images together is that it works for static objects well, but if things move -- it does not. So low-noise digital sensors still seem to offer much better results.
And certainly, startup-time (or app selection time) + focusing speed, is simply unmatched by phones compared to DSLRs or mirrorless with phase focus detection
I do think that Denoising images with AI/ML will be common place even in open source Image processing tools like Rawtherapee.
So DLSRs having APS-C or full frame sensors with lower megapixel count will do well if images are post-processed (or in camera processed) wit these AI tools.
In fact, I was thinking that buying a used DSLR from 2012 circa for 150$ bucks -- will yield similar results as a 2K camera or a 1k smart phone.
Phones are easier to transport/carry. That's has been their reason to take over the lens+camera systems.
But I think camera makers can make photo gear fashionable again :-). I am working on some ideas in that area :-)