Sensible sensors are now for pros only.

Really? Many Pros I know shoot with 40 to 60 megapixel medium format cameras.

I think it's a combination of high resolution within the limits of the technology.

Sure, 16 megapixels on a tiny sensor causes lots of noise but people who buy those P&S cameras don't care and what they use them for is perfect

Most pros will want it all. both great performance in low light AND lots of resolution.

luckily we now have lots to choose from within those constraints.