It depends a lot on what you are trying to do. I agree that most photos an iPhone is sufficient. You do not need bokeh/low light/superzoom for the vast, VAST majority of photos. Once you are going for a certain look or a certain quality of photo though you're going to need to invest in camera gear. It's the margins in which you need the expensive camera stuff, not in the main body of photos, and GP lists some of these margins.

I have put thousands into a lens just for taking photos indoors of my kids. Is it overkill? Absolutely. Do I think every cent of it was worth it for me? Absolutely. Not disagreeing with you though, I wouldn't at all recommend that others do the same as me.