Nokia sold 300,000 N800's and was surprised!..
It apparently didn't expect to sell that many

Perhaps you are looking at the N8** as a consumer device when in fact it may just be a hobbyist's device. It's production was not a current business decision but rather a decision that may affect future business.

With that said, given the constraints of your question (either this or that... kinda sounds like a lawyer making a case ) all production decisions regarding the N**'s would then have to be engineering. IMHO

I agree with zerojay regarding resolution vs. bandwidth. Perhaps it is for the same reason that these mega-pixel, purpose built cameras don't simply have WiFi chips.

Agree on the phone cam quality however it is improving at a quick clip.
Integration is a most desirable goal at the moment. Say what you will about the iphone, the ad where the dweeb talks about grabbing his keys, wallet and phone is right on the money except I hate to answer the phone when I'm working so if my next device is lacking, I'm okay with that.
Sacrebleu!!! What? No mobile? Yeah, I'm over it. Many places I wind up at (or want to wind up at) don't have reception for squanto anyways and it is kind of nice.

The Fuji looks like a good choice with a good price for that type of cam. My older Canon in the similar form factor died from exposure to sand after a trip to NZ with the laptop following shortly thereafter.
Am looking at the most recent generation of DSLR's for my high end cam.
Have not sprung for any replacements yet but will include the environment cases this go around for whatever I wind up with.

Flat-out business decision.
How many Nokia phones currently have a 5MP or higher camera when compared to their entire phone line?
Very, very, very, very few and those that do have 5MP cameras are the top-of-the-line models like my N95.
That big-cam schizzle be expensive, yo.
Also, the IT line was originally envisioned to be an "Internet Tablet", to be used on the "Internet".
How many 5MP USB video cams do you see floating around?
Not to mention the low/poor quality of the vast majority of web-cam conferencing solutions out there.
Remember, kids, anything less than DEDICATED 384Kbps entirely for the AV stream is crap...I know, I've designed and set those things up before. Lower than 384Kbps both ways leads to the herky-jerky video you see on TV news shows when the reporter is calling in from a video phone.
Sure it's "doable" and a little fun, but you do NOT want to do long-term video calls with it.