The new state of the art in sensors and lenses will not kill P&S cameras but will kill the market for larger APS-C and FF cameras. The myriad of lenses coming out for m4/3rds are light years better than than APS-C lenses. The m4/3rds sensor is the sweet spot for stills and video were the lenses could be built more compact than APS-C lenses.
Image resolution :
Samyang 7.5 mm f/3.5 UMC Fish-eye MFT (m4/3rds :
Samyang 8 mm f/3.5 Aspherical IF MC Fish-eye (APS-C)
Olympus M.Zuiko Digital 45 mm f/1.8:
Pentax smc FA 43 mm f/1.9 Limited:
Olympus M.Zuiko Digital 12 mm f/2.0 ED:
Pentax smc DA 15 mm f/4 ED AL Limited :
Panasonic Leica DG SUMMILUX 25 mm f/1.4 ASPH. (m4/3rds):
Pentax smc DA* 55 mm f/1.4 SDM:
Voigtlander Nokton 25 mm f/0.95 (m4/3rds) :
Pentax smc FA 35 mm f/2 AL: