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It's noticeable if you're specifically looking for it, but much harder to tell. Log color makes a huge difference, and the equipment they're using around the iPhone, along with the editing (and now better color grading) really close a lot of the gap.

Who said there’s something wrong with it? I’ve mainly been seeing people be impressed that they didn’t notice.

"Full frame DSLRs" were not ever the cameras that took the best pictures, they were just the top end prosumer for a while. Mirrorless are somewhat better than DSLR now, rangefinders always were if you were into Leica, and medium format or large format have always been better than full frame.

Lens and matrix size is everything when you cannot control the environment, when you can change the lighting and design the scene, then you can make up for the smaller sensor.

The camera is ok.

The difficult bit is the expensive rig + post processing software + extensive skills required to get this result.

Really it’s the lighting that’s everything.