Is there a relationship between sensor size and IQ?
Yes, although sensor technology improvements have eroded it incrementally (for example, compare the E-M1ii with the EOS 1DX FF of 6 years ago -
http://www.photonstophotos.net/Charts/PDR.htm#Canon EOS 1D X,Olympus OM-D E-M1 Mark II )
Of course we don’t know at what speed sensors of all sizes will improve in the future (measured purely in IQ terms) but I’m not betting against further improvements across the board.
So, is there a relationship between sensor size and cost, size and weight of their associated long telephoto lenses? In my view this is a very much more solid and immobile wall.
Yes. This is another aspect of the problem. Given the current technology, a larger sensor will produce better IQ. This relationship will likely continue in the future even as sensor quality improves. Will the price of the sensor relative to the total cost of the camera decrease?
The answer might be found in the Fuji GFX-50R. This is about the relationship between large and smaller sensors but new versus older sensors. The gap between current and previous generation sensors is narrowing, thus the slowdown in IQ improvements. This decreases the advantages of new sensors, but it also helps older sensor remain relevant given that it is a way to lower the cost of a major input very little impact on IQ. The thing is that Fuji can package a dated sensor in a medium format camera and sell it at a very low price--$4,500 is the introductory price for this camera. The ratio of camera to sensor cost may or may not have changed but the price of the camera has. (Note: if you want a camera with the latest MF sensor and all the bells and whistles, wait until the 100MP GFX 100S arrives in March at a cost of $10,000 per copy). You can get a Sony A7 kit for $998 this morning at B&H. For Olympus, the question is whether a current generation 43 sensor can compete with a previous generations of FF or MF sensor?
Your comment regarding size and cost of FF versus Olympus is well taken. This is a part of the trade off. This would be appear to be the natural niche for m43. There is a cost and size advantage for m43 but does this translate into a value proposition for the customer?
The answer is it depends. Olympus should appeal to the traveler/hiker crowd dealing with weight and baggage restrictions at the airport or on the trail. It also appeals to the one key demographic--the 55+ crowd, of which I count myself a member, who loves photography but has lost the gusto to carry a lot of gear around. The superb IBIS is a help as well for the less steady hands that come with advancing age. We have some disposable income to both buy gear and travel. This is a significant segment that buys gear. Micro 43 should have some leverage in this segment--the thing is that most people I encounter on my hikes either have a phone or a FF Canon.
