I'm not sure if this really matters to people who don't edit videos on their phones.
There haven't been many people editing video on their phones because phones have been too slow for that to be a good experience. Now that performance is getting there, we'll see what happens, but over the last decade the best course of action has been to never bet against the smartphone.
When phones were too slow to browse the internet snapily, people didn't really do it, then they got fast enough to browse in a pinch. Then they got fast enough to offer a great browsing experience and now people browse constantly. I have plenty of friends that browse at home on their couches 5 feet away from their laptops. They are more comfortable on the phone.
Same thing with photo editing. When the phone got performant enough to apply photo filters, Instagram jumped on it and you had millions of people editing photos on their phones. Then phones got performant enough for Snapchat to move in with it's realtime video filters.
Throughout the history of computing, every single time computers have become more capable people have immediately found uses for that capability. Everytime there have also been naysayers who, for some reason, argue that computers don't need to be more performant and that extra capabilities will be unused. I've watched this cycle happen for over 30 years and somehow it still persists.