Have they been replaced by the cell phone?
The more inexpensive point and shoots perhaps have been outrun by smartphone camera advances but the midprice and higher price ranges for point and shoots, eg Canon Powershot range, have evolved to compete. I am not sure, not being a smartphone user, but I would expect that for those who want such things as, for example, fast optics, longer focal lengths and RAW image processing, smartphones may be at a disadvantage.