It was the first phone browser done right, and is still arguably the best. Outside of the phone operations, I would trade away every possible feature of iOS for Safari.
Notifications is an annoying piece of crap for a lot of people including me. That isn't to say the previous generation of alerts were not worse, they were.
But I highly doubt that many people think it is THE cornerstone feature. For some, like me, it's Safari. For others, it's FaceTime, others the camera, etc.