In the 90s, I often carried a P&S film camera in my bag, as a backup to my main AF body on the assignment. I had a small (to me, still large to most!) camera bag, with only 1 body, 1 cheap zoom lens (Sigma 28-80), and 1 pro lens (Nikkor 80-200). In essence, it was my backup body.
In a few instances, where cameras were "not allowed", I'd sneak an all-plastic P&S into a venue, and take images there. I have many neat shots from concerts, political rallies, etc. At worst, due to the slow-ish shutter, I'd really have to find something to stabilize against (chair, wall post, arm rail, etc).
Now, this is why that ONLY worked in the film days:
P&S film cameras often had the same quality as SLRs. But digital P&S are not anywhere close to DSLRs!
When I put ISO 400 Fuji in my camera, be it an F4/F5 SLR or a $100 Olympus P&S, image quality was relatively the same. Yes, the lenses on a P&S were not great, but many could be comparable to cheap $250-500 'soccer mom' Canon Rebel cameras. Everything else was still equal -- ie the film, and often the shutter lag. In the digital age, a P&S digital cam is a huge piece of crap compared even a cheap DSLR. By the time you get to a pro DSLR, a P&S is a toy fit for toddlers.
Cell phones have mostly replaced P&S, but the same quality issues persist.
SLR / DSLR camera = photograph
phone/ digital P&S = picture
Film P&S could go either way. It really depended on who was operating it. (And that's mostly true of even SLR/DSLR as well. A non-photog is still going to be a non-photog. A "pitcher taker" taking pictures.)
My cell camera phone is unusably terrible. Indeed, emergencies only. My P&S camera is for pictures, not photos. That's when I document something, and on the off chance I print anything, it'd be a small family photo in a small frame.
I often find modern P&S cameras to be on par with Polaroid images from the 1970s!
This is why I keep a Canon 5D in my trunk. I'd rather have a decade-old full-frame DSLR than a P&S any day. Even with a three sub-$100 lenses (19-35, 50, 28-300), I can shoot an incredible range of quality images that would be impossible to do with even a new 2016 P&S. And should I keep any, I can likely print and frame those up to 20x30 with zero quality issues. So no disappointments in editing, after shooting.
This all said, some P&S and P&S/DSLR-ish cameras can do quite admirably. But those are few and expensive.