I have never been a big opponent of Iphone (or ANY SMARTPHONE) photography - I love using it when I don't have my camera with me, and I had always thought that it takes good picture; for instagram at least. Whenever I could, however, I would prefer my DSLR - faster focusing, better dynamic range, and... now that you mention it, I don't know what else. Indeed, one day, a mob of workers in protests appeared in front of my eye when I didn't have my camera with me. I took out my Iphone, and started shooting.
Surprisingly (or unsurprisingly) the Iphone (or again, ANY SMARTPHONES) allowed me to get really close. The tiny, non threatening size allowed people to be more comfortable with me putting a piece of thin box before their faces. I might look funny running around pointing my cellphone at people's faces, but at least I got great photos from such tiny contender (it's smaller then a Leica!)
So, Iphone photojournalism? Why not indeed.