It's been done, this guy does it each year. It's about 50/50 who can tell the difference in a landscape printed large with a recent iPhone (RAW files processed in Lightroom) vs a Canon R5. This is amongst the public.
Not to say ILC is obsolete, they absolutely are not, here is the best example why (wildlife), but they really are pretty amazing for a pocket camera. iPhone is supposed to get a midrange telephoto this year.
I just want to see that computational technique applied to full frame, give me the option to turn on/off, but if you can get that out of a tiny sensor, imagine what a full frame could do. I think we're getting close with global shutters and a bit longer for those top of the line CPU's to be in the price range Canon/Sony/Nikon are willing to pay for.