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iPhone RAW images still have advantages over JPEGs, even if they are noisier than Apple’s sophisticated ones.
1) they have >8 bits of color depth
2) they are not lossy compressed
3) they can be white balanced much better
4) they will continue to improve in quality as RAW decoding algorithms improve
5) you have control over the decode and can adjust the tone curve and other aspects of the development, like with any RAW.