I realize the thread is almost two years old, and things have actually gotten even worse for the camera industry.
Smartphone cameras have gotten better, so most amateur and casual photographers aren't buying cameras anymore. The only market left for the camera makers seems to be pros and high end enthusiasts.
And the camera technology has really matured. The only improvements we have seen since the GX9 are "more features" and "AI functions." Image quality might have improved slightly, but anyone who needs the best image quality is probably buying full frame cameras and not M4/3 or APSC today.
Since the camera makers are selling fewer cameras, they are putting most of their efforts into high end models. Because they have much higher profit margins there, and they are the only ones with some demand today.
Just to show you how much things have changed for the industry, CIPA just reported their shipments for January 2023.... and since we cannot compare a single month to past years, let's compare January 2023 to the average month for previous years:
Over the past decade shipments are down over 90%. They have aggressively increased prices but revenue is still down around 66%. This all adds up to fewer new cameras, and fewer at affordable prices....
The manufacturers really have no other choices. They must adapt to the market or cease to exist. And they have adapted by going up market and cutting costs wherever they could. You can imagine how difficult it must be to operate a business on one third the revenue you had ten years ago, but they seem to have adapted pretty well.
The camera market is like the computer market in some ways. The upgrade cycle is long now. I just looked it up. I bought my notebook in December 2015. My cameras and lenses are older. The computer still works well (although the battery is past it) .
Panasonic doesn't release cameras or lenses often. That's not a bad thing. Consistency has perceived value. I don't hear this complaint about Leica. Hmmm.
I was curious about this so I looked at some dates. Panasonic released plenty of cameras but very few were photography based Micro 4/3 bodies. I got these dates and whether they're considered video, photo, or hybrid (or whatever) from DPR, so I guess those are debatable.
01/2023 - S5 II & IIx, photo-hybrid ff cameras
02/2022 - GH6, video-centric
10/2021 - BS1H, video
05/2021 - GH5.2, video-centric
10/2020 - GBH1, video
10/2020 - S5, ff photo-hybrid
06/2020 - G100, vlogger-centric
05/2019 - S1H, video-centric
04/2019 - G95, consumer photography
01/2019 - S1 & S1R, photography/hybrid
02/2018 - GX9, compact photography
02/2018 - GF10, compact photography
01/2018 - GH5s, video
11/2017 - G9, enthusiast photography
So It's been over 5 years since the G9, arguably Panasonic's last enthusiast photography Micro 4/3 photo camera. They did come out with the GX9 and G95 but those are hardly replacements for the G9.
It appears that Panasonic is happy to make new cameras so long as they're for video or full-frame. I mean, it seems plausible they could have made a Micro 4/3 version of the S5 II just shrunk down a bit, but they didn't even do that. As much as they say Micro 4/3 is still part of their business, sure it is so long as it's video-based.
Maybe what Panasonic intends is that if you want a Micro 4/3 high-end DSLR style body you're going to have to buy a GH. Perhaps the GX8 and G9 were a test to see how the market would respond. They were kind of one-offs. Since those bodies have not been replaced, they'll apparently just go back to the model where the GH bodies are the flagships like when the GH3 and GH4 were.
The point is that cameras and computers have become "appliances" as much as they are tools. You don't replace a refrigerator or a hammer "just because".
I think it's true that cameras can remain relevant longer since the rapid improvement has slowed down a bit since the DSLR days. But it doesn't explain how other manufacturers, and Panasonic, have regularly released new bodies. They just haven't been Micro 4/3 bodies.
For M43, even with their obvious struggles I think OM Systems is actually more prolific than Panasonic. It looks to me, as much as I don't like it, that the future isn't bright for M43.
(edits for my typos)