iPhone 7 Plus is not the first camera to feature dual lenses or faux bokeh, but it's true its the first one in vogue, and I very much dislike the imagery. The problem is the telephoto part of the camera has a tiny, tiny sensor, even by smartphone standards. For example, the top smartphone cameras today - the Pixel XL and Galaxy S7 - have 1/2.3" sensors. The iPhone 7 Plus' tele sensor is only 1/3.6". That makes the active area half. Let alone some 1/80th that of a full frame sensor.
This results in a crop factor of 9x. The end result is that while the field of view does match that of a 56mm lens, it is really a 6mm lens in there. The perspective is akin to that of a 6mm lens. By itself, that wouldn't be an issue - in fact, I do like the expanded perspective small sensors allow. However, to see a shallow depth of field on this perspective is most bizarre and really makes me uncomfortable. What further bothers me is the fall off clearly looks artificial and not optical.
Of course, I'm ranting as a pedant, and I'm sure the whole world will get used to this aesthetic very quickly. :)
I would take a RX 100 V anyday. Not as small as a smartphone, but easily fits into your pocket, with some top notch imagery. Heck, the camera shoots video with better resolution than an Alexa!
RE: Mobile Portrait Photography Will Never Be the Same Again