X100F user tempted by Nikon Z5 price

Some factors...

Low light: One of the main benefits from going full frame is the low light, but people said the Z5 has a lot more issues than the Z6 models. So you won't fully experience this benefit from going full frame.

Size: The 24-70 F4 is grossly equivalent to the 16-55 F2.8, but it is smaller. But then the new Sigma 18-50 is smaller still. So yes it used to be a size advantage, and maybe it is if you're only using first party. But the APSC size advantage is starting to come back.

Video: The Z5 also has pedestrian video specs, though this may not be important for everyone.

Lens selection: The compact lens choices on Nikon are kind of slim. If you're okay with the 28 and 40, then it will work for you. But there isn't anything like the Samyang 12/Viltrox 13 or a compact portrait lens like the Sigma 56/Fuji 50 F2.

Personally, I own a good number of Z lenses but I'm happy with Fuji for travel. But I might switch some day if Nikon starts matching the video specs of the XH2S and comes out with more compact lenses.

Nikon Z 14-30 versus Viltrox 13: I personally find myself using distortion corrections a lot in Lightroom so I usually want to capture as wide as possible, so I am not really zooming too much on the wide end. The Viltrox has some extra stops for interiors or night, and has a better filter thread of 67mm for long exposure. The Nikon Z 20mm is great but just big enough to not fit comfortably into my camera cube.

Nikon Z 24-200: Personally I like a little more range because I use all-in-ones in places like hiking. It's nice to zoom in on a mountain or wildlife, so I'm using the Tamron 18-300 now. The photos don't look as sharp, it seems more comparable to the Fuji 18-55. But it provides a lot of flexibility. If I didn't need more than 200mm I'd prefer the Nikon, but I like shooting far. Then I'd need to bring a 70-300 or 300 PF which defeats the "all-in-one" ethos.

Nikon Z 28 and 40: These are great compact lenses with old school renderings. If this is all you need you're all set. But lens selection is limited. There's no wide or traditional portrait length, etc. Nothing is on the roadmap so it might be a while.