WHATS NEXT FOR M43, after Olympus, what future is left?

[swifty]

Other mirrorless ILC includes Panasonic, Leica, Sigma, Hasselblad, Phase One.
Wanna take a Guess how many units Leica+Sigma+Hasselblad+Phase One make up? Not much.
Panasonic will make up the majority of that 240000 units and wanna take a guess what’s the proportion of L-mount:m43?

Now let’s see, a well established system still with some volume sales as well as a major participant in the video centric ILC market (one of the few markets still growing).
The other being a new system requiring very large development costs.
What’s the bet m43 is supporting Panasonic’s entire FF/L-mount efforts.

 

[Pitachu]

I think it is too premature to think that Panasonic will stop making any M43 cameras after GH6.

Panasonic has not even been able to establish 10% of its number of users for its FF cameras with L-mount
compared to the number of users it had with its M43.

It is not likely that Panasonic will drop its FF and M43 and pursue the APS-L mount.

Restructuring is streamlining it's product range to the more profitable ones and
outsource its manufacturing as it is unlikely that any camera factory are fully
utilized 24hrs nowaways (due to pandemic and world wide trend).

Like inkjet and laser printers where various brands are being manufactured
by a few factories, in time to come, it will only be viable for all camera brands
to be manufactured the same way too.

Don't keep frightening yourself and others on all these news.
If you already have a camera, continue to shoot and enjoy.
If you are new and looking for one, even if you end up buying an item announced to be discontinued,
eg. Olympus Pen-F, I am quite sure you will still have 3 to 5 good years with it.

And even if you go for for the Canon EF-M series, there is no guarantee that Canon will not
drop it after 3 to 5 years like Nikon dropped the V1 or Sony dropping its A-series.

 

[ricohflex]

Tell you more about what happened in the shop recently.
The guy trying to sell his Olympus cameras and lenses did not even have a chance to show what was in his bag and that he wanted to sell.
Once he indicated he wanted to sell Olympus stuff, he was politely told the shop was not taking in Olympus equipment.

That is how bad the situation is for second hand Olympus MFT.

After he left, another 2 persons bought 2 used telephoto lenses at the shop. Probably Canon, although the brand could also be Nikon or Fuji.

It is not true that that the market is not buying any other brands (besides MFT) during this Covid-19 period.

Among my friends, one just bought a EOS R5, the other just bought a RF 100 to 500 lens and 3 other friends each bought a Leica SL2.

All 5 brand new.

Buyers are probably adopting a wait and see cautious approach regarding MFT equipment now - which is sensible.

Why is it necessary to take the risk with buying MFT, when the competition has so much better to offer now?
It is Sep 2020 now, not 2008.

 

[swifty]

You purport to be doing Olympus owners a favour by getting them to sell up early. What of the buyers of these second hand gear? What about them?
I’m sorry but I don’t buy your public service announcement to be genuine.
All I see is someone stoking FUD (fear, uncertainty and doubt).

 

[one eye jack]

You purport to be doing Olympus owners a favour by getting them to sell up early. What of the buyers of these second hand gear? What about them?
I’m sorry but I don’t buy your public service announcement to be genuine.
All I see is someone stoking FUD (fear, uncertainty and doubt).

Personally I think the discussion has become emotional rather than logic or of wisdom. Both for and against M43 had presented their views but both lost sight of certain logical facts. That JIP has unequivocally stated that JIP has not made a bad investment in the 30+ aquisitions todate and emphatically also stated that they are confident that Olympus products under their business directions will make a profit in the first year of operation under the new owner/ management. JIP also gave Olympus new directives and that it will also concentrate on the video business particularly security video cameras and peripherals and also strengthtening the video capabilties of which Olympus has so far not caught up with Panasonic's dominance of the video component in the consumer cameras. It may have an industrial video component emphasis which JIP said the trend of business and area where there is growth and profit. Given the obvious announcements what is there to argue about. If there is truely wisdom of the two opposing views it only leave to see what will happen in 2021 whether JIP follow through what they intend to do.

 

[JW73]

Panasonic will undergo Structural Reform.
Will delete video link after a few days.

Some old news from few days ago. Something is rumbling at Panasonic. But the parent company is so big.
Maybe they mean only the Panasonic Imaging Business Unit will undergo structural reform.

Structural Reform is ominous.
It can mean some people lose their current positions or one particular division now reports to another.

After the reform, the previous slate is wiped clean.
Otherwise, why call it "reform"?
Maybe Including wiping away their past assertions that Panasonic will continue with MFT.
Meaning Panasonic may concentrate on L mount.

If they release GH6, sell it, since they already manufactured it and the stock is in the warehouse.
But it will be the last of the Mohicans and not much hope is placed on it.
Then allow MFT to dissipate quietly.
No need for Panasonic to make dramatic announcements.

But it would be great if GH6 was built with an APS-C sensor and with L mount.

Quote some statistics (Credit: Petapixel.com)

Quote {

Of the 8.66 million interchangeable lens cameras shipped last year, here’s the number shipped out by each company:

Canon: 4.16 million
Nikon: 1.73 million
Sony: 1.66 million
Fujifilm: 500,000
Olympus: 330,000
Others: 280,000

Of those cameras, 3.94 million were mirrorless cameras, or about 46%. Here’s how many mirrorless cameras the top brands shipped:

Sony: 1.65 million
Canon: 940,000
Fujifilm: 500,000
Olympus: 330,000
Nikon: 280,000
Others: 240,000

} EndQuote

Notice something? Where is Panasonic?
Included under "Others".
No wonder Panasonic needs to do Structural Reform.

Olympus did an ultimate drastic {cut & cut cleanly} approach. They hive off Camera Division to JIP.
Strictly no nonsense this time by Olympus parent company on 24 Jun 2020.
Figuratively it is [ 推出午门斩首 ] for its Olympus Camera Division.
The parent company's generosity has run out.

Sony is also restructuring. Looking at the interview makes me laugh. One guy change from Nikon to Sony and now wanted to change to Canon because of the news.

Another indicator that the cameras demand are shrinking.

Sony Exiting Brazil: All Camera Sales and Manufacturing to End in 2021

Sony has announced that it is planning to cease all manufacturing and sales of cameras (and other electronics) in Brazil by mid-2021. The change applies

petapixel.com

 

[swifty]

Personally I think the discussion has become emotional rather than logic or of wisdom. Both for and against M43 had presented their views but both lost sight of certain logical facts. That JIP has unequivocally stated that JIP has not made a bad investment in the 30+ aquisitions todate and emphatically also stated that they are confident that Olympus products under their business directions will make a profit in the first year of operation under the new owner/ management. JIP also gave Olympus new directives and that it will also concentrate on the video business particularly security video cameras and peripherals and also strengthtening the video capabilties of which Olympus has so far not caught up with Panasonic's dominance of the video component in the consumer cameras. It may have an industrial video component emphasis which JIP said the trend of business and area where there is growth and profit. Given the obvious announcements what is there to argue about. If there is truely wisdom of the two opposing views it only leave to see what will happen in 2021 whether JIP follow through what they intend to do.

Actually I’ve been trying to be pretty level headed. I’ve never pretended m43 was a rosy picture. What eventuates will eventuate.

Though everyone is entitled to their opinions, I do have a problem with people trying to pass off their conjecture as facts.
There’s the old saying, if you can’t beat them them join them. However I refuse to be a proponent of misinformation. There’s way too much of that already. So I will continue to call out misinformation when I happen to see it regardless of whether I’m invested in the system.

 

[one eye jack]

Video entitled "Olympus Sells Camera Division - JIP To Break Up Olympus 2020".

Will delete the video link after a few days.

You can fast forward click to start view at 11:20 and watch till18:30.

The Youtube content creator expresses his exasperation [ He exclaims "What?!!!...." ] at the double talk and sophistry of the Camera Division press release, which is so out of touch with reality.

Well probably on par with those so-called Olympus ambassadors who posted videos insisting that Olympus Camera Division will never close down.
Until their bluff was called on 24 Jun 2020.

A guru said without desire there is no life so as human beings we have desires. The problem with life is if we as humans cannot deal with the consequences of our desire then it will make our lives miserable. That is life as we normally experience it.For example if we say "My job is stressful or my family is stressful. Can one take away the job or family will life be peaceful? The answer is no. The answer is within ourselves not outside. The answer is to manage ourselves by being conscious instead of reacting to external causes. We are not just physical bodies, you get the idea?

What is the desire of a typical youtuber? You just seen and heard in the above video, " If you like my content, subscribe and click the like button." Pretty obvious right?

What is the desire of Olympus? So whatever did not go right it's because they did not manage themelves right as a business.
Does that spell the end for Olympus I will not be wise to judge as that is not embracing life and it's desires.

What is Ricohflex desire? You know yourself best. Do you enjoy telling a cancer sufferer that he is going to die because that's what normally will happen? Is that the conscious thing to do? Is one's ego in the way preventing one from being conscious? Did we manage our consciousness wisely? We could all learn from Olympus so instead of enjoying it's misery we should enjoy life by managing ourselves internally. Wink wink.

 

[Pitachu]

Personally, I have always presented a logical view. I have never suggested
1) that M43 image quality, dynamic range and noise level is better than Full Frame.
2) that Olympus or Panasonic or M43 will never closed down

But I am of the view that
1) M43 users will be able to continue to use their systems for the next 3 to 5 years
2) M43 is lighter as a system with a few lenses (important if you are hiking for long trips)
3) M43 is much more cost effective especially if you need long tele range with fast lenses eg.
600mm equivalent @ F4

There are some who are so against M43 by
1) Taking the heaviest M43 body (EM1x) to compare with Sony or Canon Rangefinders and say weight and price much cheaper (eg. Ricohflex)
2) Suggesting that M43 is doomed almost immediately and we should abandon it and sell off everything
3) When comparing, only compare camera body weight without pairing it with lenses
4) Never took into consideration the prices of the systems compared with
eg. Of course the Canon R5 or Sony A7rIV or III has better Image Quality
But with a setup of 4 to 5 lenses, you are comparing a system that cost 2 to 5 times the price!
It's like comparing a Toyota with a Mercedez!

I have always acknowledge the limitations of M43, but within this smaller envelope,
it has served me and the rest of the M43 users well. I know, because I have Full Frame too
but I prefer M43 because portability is one the highest priority for me (and that is why
Mobile phones took over the camera market for compact cameras).

The extra image quality FF have over M43 (maybe 15% better) is not that impt to me.

Hopefully the above clarify my stand and I felt it is pretty neutral and logical.

Personally I think the discussion has become emotional rather than logic or of wisdom. Both for and against M43 had presented their views but both lost sight of certain logical facts. That JIP has unequivocally stated that JIP has not made a bad investment in the 30+ aquisitions todate and emphatically also stated that they are confident that Olympus products under their business directions will make a profit in the first year of operation under the new owner/ management. JIP also gave Olympus new directives and that it will also concentrate on the video business particularly security video cameras and peripherals and also strengthtening the video capabilties of which Olympus has so far not caught up with Panasonic's dominance of the video component in the consumer cameras. It may have an industrial video component emphasis which JIP said the trend of business and area where there is growth and profit. Given the obvious announcements what is there to argue about. If there is truely wisdom of the two opposing views it only leave to see what will happen in 2021 whether JIP follow through what they intend to do.

 

[one eye jack]

The same guru said:
"knowledge by comparison is not reality, only a distortion of perception which is needed for survival. “The nature of the sense organs and the nature of the intellect is you can perceive everything only by comparison. When that is the case you will always want to see how you can be better than somebody,”

Allow me to shed some insight into the Olympus saga. The M43 format was not flawed but only by comparison with other bigger formats. It is just different. Did Apple iphone said it was better than other smart phones? No iphone is a lifestyle product as touted by their marketing department.

This is I think is the fatal mistake Olympus unwittingly was drawn into by it's camera rivals that to compare apples to oranges. One of the underhanded tactic is to compare the different autofocus technologies used by DSLR phase detect vs Olympus contrast detection and Panasonic DFD contrast detection system. Phase detect is faster and more reliable as it uses 2 pixels to compare the phase difference or error and compute the focus distance compared to contrast detect which is simpler just compare contrast or light values. What was not acknowledged of phase detect system is that it works very well for stills photography but not for video. So emphasis was on speed of detection. Phase detect is also noisier but because the sensor and pixels are bigger it can be "tolerated" like having a large powerful car engine. What is also not known by public is there is more than one main mirrored that flips out of the way during image capture but another focusing mirror
Which is responsible for focusing computation.

Another "downside" of larger fullframe sensor is that there is more pixels and data to transfer and process which take up computing power and time which is also a known bottleneck. The brute force way by Canon and Nikon is to use dual processors in their top sports/ wildlife cameras.
This is also how modern personal computers get faster data performance and throughput by using multiple processors.

There is a power penalty for multiple procesors in terms of power consumption and heat from sensors.

Given the limitations of image processing systems and physical size of M43 bodies unless it is made the same size of dslr bodies like Panasonic's GH series there is not much leeway. Plus the marketing peoples lack of photography knowledge and technology. It is unfortunate Olympus fell victim to human
tendency to compare. A case of failure in marketing and advertising
and coupled with engineering that is not mission specific that lead to present circumstances. I hope Olympus, Panasonic and JIP read this..haha

 

[Pitachu]

Olympus imaging division is NOT dead. Olympus only transfer it to a new owner JIP.
The main reason is for JIP to streamline the products and manufacturer it under JIP outsourced manufacturer partners
for the simple reason that a lot of camera manufacturers are not able to utilize the full capacity of their factory.

There is no need for Panasonic to make any announcements. Panasonic just continue to release the G100
and the probably the GH6.

Olympus continue to release the EM10 mk4, 100-400 lenses, firmware updates for bodies and lenses.
Life continues for M43.

The M.Zuiko Digital ED 150-400mm F4.5 TC1.25x IS PRO is probably delayed due to change of manufacturing plans.
I am sure they will sell it if they have it rather than argue who keeps the money. That is easily resolved during
the negotiations.

It is only what you conceived in your mind because you keep wanting to promote the notion that M43 is dead.
Even if M43 is dead, you will be dumb to dump your whole system as fire sale. All my lenses and body are in
full working condition and probably can be used for the next 3 to 5 years.

Just like the Nikon V1 and several other camera lines, M43 may die when users no longer buy them.
That will depend on the market. I am sure all manufacturers are now sitting back for the recovery after
the pandemic, where Travel and Events return to normal before deciding to call it a day.
After all, almost all of them including Olympus are much larger companies than their imaging divisiion
and probably can last a few years without much revenue I think.

1 week after 24 Jun 2020, it would be natural for Panasonic (the sole remaining creator of MFT) to call a press conference. Normally, Panasonic would be anxious to reassure customers that MFT remains alive.

But instead.

Panasonic was silent.

If Panasonic did an internal pow wow and had decided MFT is NOT a viable business proposition from mid 2020 onwards.

Guess what?

Customers will be the last to be informed.

In the mean time, Panasonic may not talk about MFT or only issue cryptic comments at relatively junior executive levels.

Why?

If that was the scenario, then it may be because Panasonic needs to sell off a massive MFT inventory.

Similarly, Olympus even after 24 Jun 2020 issued a "Future Lens Road Map" on 2 July 2020.

Credit: Olympus-Australia

Anyone would ask: What "future" is Olympus talking about?
The thing is DEAD.

Where is the much vaunted
M.Zuiko Digital ED 150-400mm F4.5 TC1.25x IS PRO super telephoto zoom lens with built-in 1.25x teleconverter?

If it exists, probably in the warehouse.
With Olympus and JIP negotiating who is going to keep the money from the sales of such products already made, kept in warehouse and not yet released to the retail shops.

If it is not yet manufactured, don't expect JIP to invest time, effort and money to make it. They are restructuring accountants good at stripping a company of its assets, not optical engineers who love making lenses. JIP needs to turn "NewCo" around within 1 year to show a profit. That may entail ex-Olympus Camera Division employee layoffs, in order to reduce human resource costs.

 

[JW73]

Seems like the contents are repeating itself.

There are 2 camps here. One camp predict the mount will be “dead” (the prediction already >10 yr) & will clear the equipment. The other camp acknowledge the future of m43 is blink but is postive and will continued to use it.

The next signing of agreement between JIP/Oly will end of this month and the transfer will be done end of 2020.

As a FF , APS, M43 and 1” sensor bridge user, It is exciting to have more choices. But if market forces change the situations, just hv to adapt accordingly.

Let’s wait & see.

 

[swifty]

There appears to be a Cine m43 camera coming up for Panasonic.
Also a startup in the UK doing another smartphone/ILC bridge camera.

Seems like Panasonic may be moving more towards videography whilst in the rest of the consortium, small indie companies may pop up doing out of the box creative projects as the m43 mount probably has the lowest barrier of entry.

 

[one eye jack]

There appears to be a Cine m43 camera coming up for Panasonic.
Also a startup in the UK doing another smartphone/ILC bridge camera.

Seems like Panasonic may be moving more towards videography whilst in the rest of the consortium, small indie companies may pop up doing out of the box creative projects as the m43 mount probably has the lowest barrier of entry.

There's already FF cine equivalent in Canon C70 ( youtube). You are right in that M43 presents a lower barrier of entry for aspiring video and cinematography content makers because it's the physics like smaller M43 sensor need smaller files and data image processing requiring less powerful chips, power consumption and data speed yet maintain high data transfer speed plus proper heat management , not to mention cheaper dedicated cine lenses to make professional cinematic films.

But on the flipside if costs justified a FF film would have more leeway when it comes to editing when colour grading which is essential to give the film the director's look and feel while maintaining resolution and colour. All this is moot when consumer cameras only output jpeg but I'm not sure current cameras like the Zs or Rs have RAW output. That's why Blackmagic cameras in M43 have Raw output and better image processors. A m43 professional quality equivalent in terms of final image processing and colour grading.

Edit: As a sidenote. In the real professional world no one buys or owns cameras and lenses as each cost in the tens of thousands so it make economical sense to rent them because you can't do it alone if you want to deliver a quality product. Even on a modest budget of a few million dollars. You need scriptwriter, actors, film crew, editing crew and other support staff. That's why at the end of each film there is a long line of credits to recognise the various talents that contributed to the film making effort.

 

[swifty]

There's already FF cine equivalent in Canon C70 ( youtube). You are right in that M43 presents a lower barrier of entry for aspiring video and cinematography content makers because it's the physics like smaller M43 sensor need smaller files and data image processing requiring less powerful chips, power consumption and data speed yet maintain high data transfer speed plus proper heat management , not to mention cheaper dedicated cine lenses to make professional cinematic films.

But on the flipside if costs justified a FF film would have more leeway when it comes to editing when colour grading which is essential to give the film the director's look and feel while maintaining resolution and colour. All this is moot when consumer cameras only output jpeg but I'm not sure current cameras like the Zs or Rs have RAW output. That's why Blackmagic cameras in M43 have Raw output and better image processors. A m43 professional quality equivalent in terms of final image processing and colour grading.

Of course there are FF Cine cameras. BTW, the just announced C70 is Super35 which is basically APS-C in 16:9.
As you're aware of companies such as Blackmagic (or Z-Cam), it does seem Panasonic might be moving into this area. RAW video may be a possibility since it seems almost every manufacturer are working with Atomos to output ProsRes RAW externally, including Olympus.
Availability of Cine lenses for both Super35 and m43 are already present.
I was musing based on a vague rumour that there're 3 variations of the GH5 successor that one would indeed be a Cine version.

Anyways, with regards to lower barriers of entry, I actually mean to smaller manufacturers of equipment as m43 is a consortium rather than a licensor who you have to pay money to licence their mount eg. Sony E-mount. I'm sure there're some initial costs to joining the consortium but I do believe it is much less, particularly any on-going costs which makes it more ideal for smaller creative companies.

 

[Pitachu]

Ricohflex, you are like Donald Trump. Repeating a distorted fact do not make it the truth.

1. Why do you keep comparing the Sony 7c with the E-M1x?
Either you do not know other M43 Camera models (Em5 mk iii)
or you do not understand the target market for the E-M1x.
Or you are so desperate to make a point that after my replies, you are still doing it.

2. For you info, years ago I bought the Canon EOS 1D for S$12,000 and sold it later for $2,000 losing $10,000.
I also have a friend that gave away their $30k Medium Format system because he did not manage to sell it.
My cousin EOS50D is lying somewhere too because he cannot sell it or price he got is way too low.
My brother have a tough time selling his Samsung Note 9!
Any consumer electronics who are no longer wanted does not worth much.
M43 generally have a smaller group of users and generally harder to sell but you dont have to twist the facts to make it look worse.

3. All reputable vloggers always declare their interests. It's not worth giving a fake review when a product is no good just because they are being paid.
They will lose all their audience very quickly and that will cost them more. I generally follow vloggers who mentioned they are being paid or
sponsored items or doing it on their own to provide a good review to get me to press their subscribe button. If I felt it is a bias review, I will
not subscribe or even un-subscribe as I do not want to waste my time watching future videos.

4. In reality, most people dont just watch a review, and go and buy something. Good reviews will entice me to try out the equipment. I will still test it out by visiting a event (eg. Olympus has several workshops like Macro, Birding etc to me to test out their gear. One of their staff always say 'Buy only if you find it useful and like it" Otherwise, I always go down to Cathay Photo or SLR Revolution as they always like me test out their gear in the shop for the usability and feel.

I have perused the Sell section of MFT and it fills one with a tinge of sadness.

Some of the items are offered at more than a thousand Sing dollars and the prices offered are already a mere fraction of the original prices paid by the owners/sellers.

That gives you an approximate idea of how much money MFT owners have sunk into this so-called "system", buying MFT camera bodies, lenses and accessories.

It makes you sad because you feel empathy for their financial loss.

How much better it would have been for the MFT owners, if they had spent that large sum of money buying something else. Say, for example Fuji, Pentax, Nikon, Canon and yes - even Leica.

MFT lost the size and weight argument years ago and the current Sony A7c is a slap in the face of Olympus and Panasonic.

Price wise - Canon plans to offer a sub US$1,000 Full Frame with a sensor that is 4 times bigger than MFT.
Olympus OM-D E-M1X was launched in Feb 2019 at a price of US$2999.99.
That is called losing the price argument.

Big body but small brain - that is why dinosaurs became extinct.

One cannot call it a FRAUD or a SCAM.

No one forced them to buy MFT.

No one cheated them blatantly. (as in the classic "Magic Stones" scam)

It was simply the result of a masterful and highly effective marketing campaign waged for more than a decade since 2008.

For this, Olympus and Panasonic must be congratulated.
They convinced many people to part with their hard earned money to buy MFT equipment.

Olympus and Panasonic built a following of die hard fans, a minority of whom may attack anyone who dares to criticize MFT.

Olympus and Panasonic made use of "ambassadors or visionaries or whatever fancy name you want to call them" to constantly sing praises about MFT on the Internet.

There are modern age social media & Internet "influencers" who are able to affect the buying decisions of others.

That is just fine for Olympus and Panasonic if they make people buy more MFT. Hey, it is business. No crime was committed here.

The marketing campaign was so effective that after a while, Olympus and Panasonic began to believe their own marketing spin.

Paid flatterers never tell you the truth.

Thus both companies slowed innovation and ignored plunging market share.

Fortunately for Panasonic they sensed something was terribly wrong with MFT and joined the L mount alliance, going into Full Frame in September 2018.

 

[Pitachu]

Robin Wong talks about likely future of Olympus.

 

[swifty]

New Panasonic DC-BGH1 camera registered in Russia - Photo Rumors

Panasonic has registered a new DC-BGH1 camera in Russia. The new model is compatible with the Panasonic AC SAE0011 adapter (12V/3.0A) that used in professional 4K camcorders (via Nokishita). The GH1 naming indicates that this could be an MFT camera. Panasonic recently said that they are still...

photorumors.com

Oooh.. a cine/z-cam/BM style m43 Panasonic could be coming soon.

 

[Castor Troy]

After the fall of Olympus, its unsold MFT inventory will be liquidated at big discounts well below cost.

Eventually probably done through online sales Alibaba, Shopee, Lazada, etc...

What about the retail shops?

After the signing of the agreement to formalise the arrangement between Olympus parent company and JIP on 30 Sep 2020. Which is 5 days from today, shops will have a better idea what to do with Olympus products.

After the actual transfer at end (December) of 2020 shops will have even firmer outcome to act on.

You may start seeing Olympus display counters disappearing in the retail shops.

Panasonic MFT sales will be badly affected by the dumping of Olympus unsold inventory. It will be hard to keep charging high prices for Panasonic MFT lenses.

Most dangerous for Panasonic is the aura of MFT being psychologically labeled a { Failed System } by the general public.

Once this takes hold in the minds of the consumers, the entire line of MFT products is condemned.

People like to wear and be seen using products associated with success, progress, forefront of technology, wealth and status.

They do not like to be seen using a product widely associated with failure.

This is the truth. (Whether is it good or bad, is another story.)

That is why some people like to wear brand name luxury watches.

It may come to a point in near future, that if one uses MFT in a photo outing, then others think of him as a Loser. This is the greatest fear of the marketing gurus at Panasonic.

Some people buy based on their Needs.
Many more people buy according to their Wants.

Because Olympus hit a scientific wall and cannot overcome the limits of the very small MFT sensor. It stopped trying and from a few years ago, offered "new" models that contained more or less the same sensor; but with various fringe changes in small features here and there.

In other words, ZERO innovation.

Olympus tried to convince buyers that about 20MP is all that you really need.

At a time when Sony A7R4 had 61MP, Leica SL2 had 47MP, Canon R5 had 45 MP, Nikon Z7 had 45.7MP, Fuji GFX100 had 100MP, Hasselblad H6D-400C had 100MP, Pentax 645Z had 51MP, Panasonic S1R had 47.3MP.

It is like a time in the past, when manufacturers of 2MP cameras insisted that 2MP was all you needed. Why would you want to buy that 8MP camera?
One of their rationale was - Who makes big enlargements anyway?

I agree with your logic.
I still keep me EM1 and lenses because I expect very low value from selling them.
I have a complete collection of m43 lenses but I’m willing to write them off at zero value.
Samyang 7.5/3.5, 12/2, 17/1.8, 25/1.8, 25/1.4, 45/1.8, 60/2.8, 12-40/2.8, 14-150.
As well as multiple flashguns and accessories.
Would I buy another m43 body or lens?
Possible, but the system has poor price to performance ratio now.
I would consider the EM1M2 or EM5M3, but only new at $800 and $600 respectively.
Because the competition offers much better cameras for the money.
Olympus lenses - nice and sharp.
Olympus cameras - bleh output, especially at ISO 800 and above for human faces. Massive noise reduction and humans have a waxy look. This refers to the latest cameras too and RAW output too. Limited dynamic range and loss of fine detail...

 

[JW73]

For the waxy face issue, you may want to check if your camera noise reduction mode is off or on. Good to be turned off.