What's with all this bait?
Obviously the sensitivity of the chip is defined to keep the exposure triangle in the right relationship with aperture and shutter speed for a given exposure.
But to cite the equivalent focal length to explain the angle of view should be followed by the equivalent aperture to explain the depth of field.
The 5mm of aperture for 135 film in your example may give a different look compared to the 13.1mm of aperture in the 6x9 120 (distance and framing kept constant)... And this would be very noticeable compared to the ~2.5mm of aperture afforded by a typical smartphone. That's why they have to rely on AI bullshit to smear the backgrounds in an effort to mimic the physics of larger apertures.