Depend on what you do with the data.... For GIS - its not very good to do anything with colors or contrast or etc - as the bible of Photogrammetry say :-)
But when we work not with medium or large cameras, they are professionaly calibrated - so you can use it for analysis of spectrum ( multiband eventuely )
Our customers devices are better and better over the years, but stil we can do few thigs with that. Best if you shoot in RAWs - much better and sharper results as from JPGs.
A lot of us use it for "scanning" of objects, peoples, buildings, and therefore we can do few things with it. - At least for the whitebalance and better use of RGB space..... For better results.....
AS have mentioned im on the way to put things together , with some testing data for comparsion and etc. So stay tuned, in next few weeks wil dig intro that. Want make complete guide about shooting, PREpost generation of data and etc. even the POSTprocess of some data.....