This is definitely a downgrade, and not something I managed to do do in the pre-phone days. People are less likely to snoop in my phone, but people around me at the time would open up paper and read it. And it most definitely doesn't fit in women's pockets any better than a phone.
You see, my phone does all of that except provide an ink pen. Plus more. I generally have a map with me. I have a communication device and a camera (which I use quite often to take pictures of otherwise mundane things like manhole covers). I keep some cash and a non-state-supported ID in there. (Passport doesn't fit). I email stuff to myself quite often because it is a quick way to get things from one device to another. I pay for the bus with my phone, pick up packages from the post office with it, and other small things like that.
I'm simply not interested in downgrading to paper for this stuff. I'll use paper for fun (art and stuff) instead.