It's also about having a system designed around live view and EVF -- much the same as the appeal of Sony SLTs. You see exposure (and, if shooting JPEGs, white balance) before you shoot. You can much more accurately review pictures after. On u4/3, you have automatic focus zoom for manual focus, which is a huge upside if you're shooting fairly static things (although a bit of a downside for things with more motion). It took a few months to get used to EVF, but now, I greatly prefer it to my OVF.
The automatic modes in EVF cameras are dramatically smarter than OVF cameras. For autofocus, I no longer need to pick focus points and modes -- the camera is now as good at that as I am. I do still set aperture, shutter, and ISO, but even there, I am occasionally starting to shoot in more automatic modes, just because the camera can think faster than I can.
In practice, video modes work better too, but I'm not sure if that's because of u4/3, or just because the GH2 is designed around it. I have a bunch of GH2s which we bought for a use case where size, weight, and cost were all mostly irrelevant. Some Canons are almost as good, but the GH2 is still a bit ahead, especially in terms of ergonomics. The Nikons -- at least excluding models just released, which have not been used enough yet to know -- are crap in comparison. Sony dSLTs would be decent if they had audio level controls, but they don't, so they're effectively useless for video work.
Disclaimer: I mostly use dSLTs for stills, and u4/3 for video, and have very little experience the other way around. I apologize if I generalized anything between the two that hasn't carried over yet.