Can an iphone 5 take better photos than an 8 years old compact Canon digital camera?

Can an iphone 5 take better photos than an 8 years old compact Canon digital camera?

Of course

The Canon will easily have the better lens and depending on te model should have a better CCD but the iPhone will give it a good run for it's money.

An 8yr old compact camera will still have a better lens and a larger sensor.

A better lens produces better image quality, and a larger sensor works better in low light.

Phone cameras are junk no matter how you sugar-coat it.