So what happened to the rush for FF digital compacts?
Yes we have the Sony offerings but what about the rest .. Canon, Nikon, Fuji etc?
Maybe the compact mirrorless market has suffered sufficiently at the hands of the smart phone to make them a little wary!
I'd guess that FF digital compacts appeal mostly to photographers with legacy lenses - who are mostly older generation - and are a declining share of camera buyers.
Younger generations just buy whatever gives them the results they want, and APS-C and smartphones seem to do that very well.
If you divide the market into consumers (vast majority) and enthusiasts, consumer needs are well met by iPhone and APS-C DSLRs, the latter having compelling advantages for soccer mums. Quality exceeds needs by a large margin. Canikon are established, trustworthy brands in the non-smartphone market.
Divide enthusiasts into younger and older generations: the younger generations have no legacy lenses and cameras like Fuji X-system, m4/3, GoPro and iPhone give lots of options to express and share their visual ideas. I mention sharing as that is just as important to them as IQ IMHO. I agree with comments by Thom Hogan that the established camera makers are missing the boat with the newer generations by not producing cameras that permit sharing with the same ease that the iPhone allows.
The other thing about younger enthusiasts is that they are into video at least as much as stills photography. The iPhone, GoPro, GH4 and maybe the latest OM-D are more attractive video platforms to them than FF due to portability and cost. Workflow is also important as they want to put their efforts on the web with minimal fuss and delay. Guess which device does that best.
Older enthusiast photographers are a declining but comparatively wealthy demographic and appreciate the ability to use legacy lenses at their designed focal length fov in a light weight body - preferably image stabilised as they get older!
In the shrinking non-smartphone camera market the manufacturers will be looking for greatest overall revenue - this is still with the APS-C DSLR and smaller-sensor market.. FF has higher profit margin but a much smaller market. Nikon seem to be trying to push consumers to FF by not releasing a D300 upgrade. However their FF models are not compact by any means.
I'm guessing the effort will be going into compact mirrorless APS-C rather than FF, just to stem the balance sheet hemorrhaging. (slightly off topic: latest rumours are that Olympus imaging division is continuing to make losses in latest quarter - I would hate to see them go under).
The problem for Canikon there is, do they have a lens range for APS-C that would interest enthusiasts? Fuji (and also m 4/3) has such a line up, but do Canikon?