You try to make an analogy with the passport, but you achieve exactly the opposite: you make it obvious that they are not the same.

I don't "own" my passport. I'm not allowed to alter it in any way. I have to report it to the authorities if it gets lost or stolen. I'm not allowed to sell it or give it away. It's an official government document.

I do own my smartphone. I can put stickers on it. I can open it and modify the hardware (if I can work around the various roadblocks by the manufacturer). I don't have to tell anybody if I lose it. I can destroy it on purpose if I like. I can sell it, give it away, share it etc.

You mention IP. That has nothing to do with my use of the device. That concerns (as you mention) reverse engineering with the purpose to make money from it.