I'm really sad about this. It feels like everyone went full-frame without appreciating the benefits of smaller lenses and bodies. Olympus glass is the best in the industry, probably because they don't have to make everything so damn large. I've got Olympus lenses that cost $400 new and can't even match $2000 full-frame glass. Sure, I'll keep my kit forever, but it sucks to know I'll never upgrade any of it.
It's true the lenses Olympus make may take up much less volume than an equivalent large focal length for full frame.
But the downside is they're not cheaper in the prosumer space. The spatial resolution demands put on the lens by a 20MP M43 sensor is actually pretty similar to a 42MP Sony A7Rii. This means the manufacturing tolerances are the same as full frame, which is a large component of lens cost.
This means that for the average consumer not interested in long range wildlife photography where the price of glass does come into play (e.g. 600mm), there isn't any price advantage.
The Tamron actually outperforms the Olympus lens in terms of spatial resolution/sharpness on a 24MP sensor (because the photosites are larger), has a 2 stops faster wide end, and is $500 cheaper.
Even more interesting is that there is only a 14g difference in weight between these two lenses. Granted the Olympus will have better weather sealing.
The average prosumer is going to do the math and see that for a lower total system cost (body + lens) they're getting more in terms of sensor and lens performance for a negligible increase in weight.
This wasn't true in the early days of Sony's FE system, but as of 2020 with modern, sharp, short flange lens designs from 3rd parties - the price/performance ratio has become better than I ever predicted it would be
Yeah, you're right. But still, the Olympus is water sealed and stabilized to like 7 stops. And it's still smaller and uses smaller bodies, even if not drastically.
That said, I don't like that Olympus lens. I don't have it and have no interest. Like you said, it's a bit silly and defeats the purpose of the format. But give me the 45 prime and I've got a camera with great reach that can nearly fit in my pocket.
I have like all the primes. My favorites are the 45 and the 75mm, since I mostly do portraiture. Those are both tack-sharp edge to edge, every aperture. I have the EM-5 mk II body. I was just about to upgrade to the mk III... but I'm not sure if now it's a better or worse time to do it. Maybe I should while there's still stock, since I think this is going to be my system for the rest of time.
EDIT: Oops, on the above post I meant to say that the $2000 glass can't match my Olympus. No idea why I can't edit that post anymore...