Yeah that’s fair, and I suppose there are also probably pretty significant limitations to iso performance because of the very very small sensor.

That said, I’m not scared of high iso (in fact I quite like it) and if we’re talking about telephoto lenses, I’d take a light long lens over a heavy fast one any day of the week but hey. I get upset when I see a nice bird and don’t have a camera on me. Majority of folks will probably be happier with a decent fastish portrait lens, so I guess Apple made the right call from a ‘selling iPhones’ perspective. I’d still like a bit of extra reach even if the lens is a bit on the slow side.