Originally posted by Cipher I find it odd that you said "It also means I can shoot with just about any lens (Pentax, Minolta, Nikon, Canon FD, Konica, Zeiss, and so on),"
and then you trashed the Q, which can use all those lenses and C mount and D mount lenses. As far as robustness goes, I've had better luck with my Q lenses than with my DAs.. The Q lenses are, admittedly, mostly made of plastic, a design choice made to keep the weight down. I can wear a Q on a wrist strap like a bracelet all day and hardly know its there.
The small sensor size on the Q gives it certain advantages (depth of field, size, weight) over larger formats, all of which require much larger lenses and smaller f-stops to take similar images, even if the bodies are slim. A 75mm f1.4 C-mount lens on a Q7, for example, gives the field of view of a 340mm FF lens with the depth of field of a 75mm at f1.4 and it fits in a jacket pocket. The Q system didn't catch on with consumers because it was too sophisticated, not because it was toy-like.
Small sensors dominate the consumer market, but most of them are in phones and surveillance cameras which have other advantages (and disadvantages.) They won't be going away.
The K-01 was an interesting experiment (I have one) that was released too soon, its sensor was (and remains) great, but many of the refinements you mention weren't available to Pentax at the time. It was done on the cheap–basically a K-30 (I have one) without a mirror, different, but just as usable. Outside of the mode dial popping off, it is a workhorse and the much maligned rubber flap over the SD card slot was a great idea.
I'm talking about the Q sensor being too small for interchangeable lens camera, IMO. (same for the Nikon 1.) Yes, smaller sensors give larger depth of field, but that may be a blessing for some but a curse for others. i.e. One of the benefits of DSLRs and other large sensor cameras is small DOF which gives you that separation and a much more 3D look. Smaller sensors don't give you (as much of) that, and IMO, give a much more toy result.
Even smaller sensors dominate phones, ultrazooms, etc, but with smaller sensors come smaller lenses which have issues with diffractive limit.
In the end, the consumer speaks. In my view, the commercial decisions made by Pentax with both mirrorless lines was wrong. Personally, I'd like to see Pentax release a full frame mirrorless to compete directly with the Sony A7 series. There are a mountain lenses that would work very nicely via a suitable AF adapter.