A machine can have "insanely good IO" if you're not judging it in the context of older hardware, yes.
Four thunderbolt ports is great. One adapter to plug in all of the things you mentioned is also great. iPhones and hard drives don't need dongles, they just need cables. A USB-C to USB-B 3.1 cable is $1.33 from Monoprice; USB 2.0 version is just $1.12. Not too shabby.
For iPhones: the only times I've had to plug my iPhone into my laptop is doing development, but a cable for that only costs $20.
But let's compare it to the previous (2015) MacBook Pro: two USB ports and two Thunderbolt-and-Displayport ports, and HDMI. Five ports total, but no flexibility. Our office was full of DP-to-DVI dongles already, so swapping one dongle for another seems like a no-op. Difference now is that we can buy USB-C monitors which also serve as a power source and a USB hub, meaning one cable to plug in my entire desk. That's something you can't really get on the old MacBooks (at least, not without spending a lot more than it costs to do it on the new MacBooks.
So yeah, the machine has "insanely good IO", and once the rest of the world catches up it'll be even better.