We went for ages without a decent camera. We went on safari in Kenya with a handful of disposable cameras and spent the next 10 years telling friends,"they are lot closer in real life, they are actually elephants not fleas!" The only exception to this is when we were charged by a bull elephant. Even our little disposable frame was filled with elephant head!!We asked our guide why the elephant stuck out his ears when he charged and the guide replied, "to make him look big."

As if we needed any convincing! When our son was born we just didn't want to miss out on capturing those memories so we saved for a decent digital camera. It was well worth it! Here is an image along similar lines to Andrew's, just right a bit and up!
And this is one of those moments we didn't want to miss:
But you can get it just right with a phone camera too, I got lucky with this one of sadly departed dog...
But on balance I think investing in a camera is wise. Some gadgets are just that, they end up collecting dust. But for a material item, a good camera does make sense.