We constantly hear how smartphones are eating compact cameras, etc, etc.

Instead of repeating this shit again and again, let's stop and think.

What is happening around us?

Titanic is sinking. Economic crisis is only at first stages and unfolding slowly. Real wages in US and EU are not rising, in most countries they are shrinking. Add here increasing costs of food, fuel, home services, education.. Less and less is left for you to spend on cameras and other hobbies. Situation is the same across all market. Except guns. But people think about guns as "survival tool" now, not hobby.

In cameras we have even worse situation. With falling amount of money you get subsidised phone with so-so tiny camera and good screen. Despite being subsidised, of course you pay more than full price of original phone with time, and frequently it is more than $500. So, in fact, phones not only compete in your mind, but they literally eat the money you could have spent on compact camera.

Situation with larger mirrorless cameras is not much better. As market is slowly dividing into two niches - premium niche with still good margins and niche of constant discounts. Just check Panasonic and Olympus m43 cameras. Add here largest online retailers who work in minus (like Amazon) and you'll get more complete picture. Even your hobby market is fully expiriencing same consequences of usual elites approach - privatize all income and nationalize all expenses.