If technology permitted, I would want (and I believe many others also) would want a depth of field which is wider than my subject is deep (so 15cm or more), but yet a heavily blurred background. How do we get there? (many will say forget it - not possible)
Background blurring depends only on the size of the entrance pupil (roughly - the diameter of the front element of your lens) - observe percent blur at infinity on "how much blur" and you will see this is so.
Depth of field is proportional to the aperture F-ratio and inversely proportional to sensor size. Again, this can be observed on how much blur as the distance where .07% blur occurs. (.07% is the ratio of the CoC to the sensor diagonal =.015mm/21.6mm for M43 camera, = .03mm/43mm for Full Frame camera)
Using a head and shoulders view (0.9 x 0.6 meters) as reference, with a 50mm F1.8 lens on a full frame camera, the rear depth of field is about 2.8cm and the blur at infinity is 3.1% Depth of field of about 2 inches is a bit narrow for me.
The same view with with a 50mm F1.8 lens on an M43 camera, has a rear depth of field of 5.8cm and the blur at infinity is still 3.1%. More of the subject is in focus (depth of field is now about 4inches), and the background blur 30m away is the same 3%.
But you might say, well the background blur 5m away is now 2% with the M43 camera instead of 2.5% with the full frame camera.
Then, choosing an M43 camera with the 75mm F1.8 lens will result in a rear depth of field of 5.8cm, a blur at 5m of 2.7% and a blur at infinity of 4.6% - so the same 4 inch depth of field and equivalent or better background blur.
Can M43 with some practical lens match a 50mm F1.4 lens on a full frame camera? The M43 system can't match the 3.2% background blur at 5m with any automatic lens, but my Canon FD 85mm F1.8 with the FD to M43 Speedbooster does (manual focus now), and the depth of field is 6cm versus 2cm.