Now look at the question and take seriously what is not meant to be taken literally.
Not exactly a very good comparison, but still.
The Swiss Army Knife has one very obvious limit: its volume, so it can carry only a limited number of a limited range of tools.
The smart Phone is hardly "smart" except in looks, but like any Internet-linked computer, it is capable of handling a vast number and range of its equivalent of tools, even if some might need on-line operation to overcome internal memory limits.