The pace at which personal computing is growing, more processing power has become a need. I personally may not use it, but yeah, high-end gadgets do require more computing power. A phone can of course function without high capacity processor; but the functionality and display will be very limited.

Its depend on person's need to have more computing power or not.If more computing power coming in small devices its beneficial. Mobile phones are now more than just talking and texting machine.

I started using Instagram and really its fun and works well for all simple image processing and to process a big image file it needs better processor and RAM. I just saw photoshop is also available for mobile also. If I can do computing on handy devices, if just add productivity.
For me, I need more processor power into my phone.😀