Yep not a fan of the phone clip, but I hope this doesn't turn into a thread bashing them!
I think for sharing the excitement of a new amp, showing off a cool riff, or for general fun they're cool. @311splawndude said it well the other day, that 'Cell Phone clips = more clips at the end of the day'. It's a good way to look at it really, and at least it's a step further than a lot of guys go.
I'm convinced though that the 'filling in the blanks' aspect (paraphrasing you @braintheory) of a phone, or any distant recording really, is a real thing. I mean you hear a terrible bootleg of an early VH gig and you just know the tone was good, even though it's not explicit in the recording. Same with some shit hot amp someone has just bought - they play some cool riffs through it and although the tone is actually indistinct and weirdly eq'd, you can sort of assume it was great in the room.
On the flip side, the problem with close-miking is that it's not a formula for guaranteed good tone. I've heard many, many clips over the years with a 57 in roughly the right place that sound terrible. Unfortunately it's not just point and shoot, and one size does not fit all. Also for those unaccustomed to isolated close-miked tones, you'll get complaints they are too dry, bright, harsh etc.
So no more phone-shaming from us, although I don't think we'll be posting any more!