How many will tell you that the photos (that only you know) taken with smaller format are terrible/noticeable worse than the ones taken with larger format?
I am guessing none (unless one is a pixel peeper).
Unless one is to sensors instead photography.... As even those who do stick their noses to print etc do not pixel peep, they admire the image, not the quality of the sensor.
That's certainly not what I want to pursue with my photography.
I don't care so much what I, you or someone else here personally pursue, I care what the people do. That means 80% of the people who want to take photographs. That is my baseline. There will always be those pixel peepers, gearheads, sensor advocates etc who can't accept photograph unless it is captured with gear that is "proven" to be better than some other gear that some graphs and specs states should be better.
What matters is only the final image, not the raw, not the gear etc, only the final image. And that final image requires a context.
If to this forum comes a new member who has no idea about m4/3 system, they have questions that does it fit to their purposes. Quickly the threads evolve to urinate competition that who has the better skill reading MTF charts or how does a raw file look in ridiculous ISO values when looking a 5% area etc etc.
None of that matters. Not at all. No one else than me seems to here ask the context, that for what purpose does the photographs need to be taken and used. Are they going to print and if yes, then on what kind material, in what size and where it is set to be viewed. If only digitally, then how it is going to be viewed, is it a smartphone, television etc, are the screens calibrated for the space etc. And then how much effort are put to the files, are they straight out of the camera JPEG's or are they going to be edited, manipulated or used as part of the other art.
The camera is not for most people at all a way to brag to others or argue with others that how much they know about the specs of it and others and how to compare them. The camera is for taking photographs and as long the final image output requirements match the camera capabilities, all is good.
The world went from 10x15 prints to smartphone screen, the majority of the images that today are viewed are from small tiny smartphone screen that no one is pixel peeping at 100% unless there is such tiny detail that couldn't be captured because wrong focal length. And then it matters far more that tiny small detail than the image quality what so ever.
And there is this illusion among some people that everyone needs that 35mm sensor because "its smooth transitions" or what ever, but no, only very tiny percentage of all people taking photographs will need such. What most people would benefit far more is a zoom lens instead a fixed focal length. One of those things that so many phone manufacturers are hunting for to get a change to offer that variable focal length for the user. A control of the time and exposure with shutter speed and F-stop so people can get creative. Something again that phone manufacturers are offering now.
And mostly important is the image editing phase, where before it was darkrooms, before it was the glass plates, it has all turned to digital. Not long time ago it was a adobe photoshop and now it is just the smartphone or tablet, and now we are moving even further to the pre-editing phase where the edits are put on the image on the moment it is captured, effects like darkening the background, smoothing the skin, lighting the eyes and teeths etc etc.
Reason why photography became so huge thing, and why 135 film became so popular was never about SLR cameras and darkroom workflow etc. It was always the pocket cameras, a fixed 28/35mm lens, maybe f/2.8 if not f/3.5 and integrated flash. Point'n'shoot. Fathers, mothers, sisters, friends etc all using pocket cameras. Almost 95% of the all cameras sold ever at the peak moment of film were pocket cameras, and KODAK owned camera market, even the early digital camera era market. The standard quality of the photography for film was ASA 100 and ASA 200 and 10x15 and A4. All pre-processed by the photo lab technician with a few button presses to increase contrast, adjust brightness, balance colors.
And today that exact same thing is going on via smartphones. Quality requirements and needs has not changed. People still do A3 size prints but they mainly use smartphone screens to look at the images.
That is the mainstream demand and requirements. Not pixel peeping, not dynamic range, not anything else than get the memory captured and use it in later to relive the moment.
No one cares if there is someone who puts hours for one image editing, spend days or weeks to get that photo captured in the first place, spend thousands to the gear and traveling etc. If the photo looks nice, someone buys it. But no one really cares about all the effort put to that photo, that is photographer own thing to live and memorize those experiences and feelings.
Because one camera gets 0.3 EV better SNR in one lab test, doesn't make it better camera. Not even 2 EV these days. All that is just waste of arguments.