Can't see the logic to be honest. And it costs too much.
On the one hand, if you forego IQ for convenience, there are more convenient and cheaper alternatives eg. XZ-1, S95, LX5, EX1 with similar IQ.
If you forgo convenience, basically every system out there will trump it in terms of IQ by virtue of the sensor size.
I think for size advantage whilst maintaining fairly good IQ, the 4/3 sized sensors or thereabouts are a good compromise. Some will argue APS-C is the sweet spot but although Sony's demonstrated the body can be made very small, the lenses (even their pancakes) are still quite large.
But 1/2.33" sensors I feel is just too small for a system camera.