Every time it's been tested in the marketplace, it's flopped.
Seriously, look at the history of extreme cameraphones/phone-camera hybrids. Nikon had the Android-based S800c and S810c; Samsung had the Galaxy Camera, S4 Zoom, and Galaxy NX. On the smartphone side of the fence, Panasonic had the CM1, Nokia had the PureView line. None of them had any notable sales success. None of the camera models lasted more than a year or two - and worse, none of them got more than a year or so of Android updates, which cut off their access to newer apps and left them with security vulnerabilities.