Some of us dont have the latest smart phone, let alone the newest iphone! I have a less expensive phone and plan. Unfortunately it isnt compatible with Pivo. (and I am not fond of the pivo when you have to ride with others)
The video camera was around $200. It is easy to set up and to hook up to computer or TV to view. It doesnt get messed up by incoming calls and I dont worry about all the dirt so much.
I can see a phone on a tripod if you have a good spot for it. The gimble feature is useful if someone is holding it, but I dont usually have someone.