Indeed, I feel like I'm one of the few people that uses my phone almost entirely as a tool. I don't use any social network for entertainment (only for messaging), and though I do use it browse the web, my use there is largely negligible.
However, I do get a HUGE amount of use out of my phone as a tool. I handle email, keep notes, use the camera for notes, manage files using Dropbox, and listen to music/podcasts (which help me be productive). I don't feel like phones are a bad thing.
Can't say I see that happening. As many users already mentioned smartphones add great value to people's day to day.