I suppose market research dictates that most folks in this segment want a smaller camera. The older G12 is small enough to fit into a jacket pocket and for me that's small enough thank you very much! There must be many folks with large hands like mine where beyond a certain reduced size, controls become too fiddly to be enjoyable.
One major attribute of the G12 is its articulating screen. I find it invaluable when using a tripod since most light tripods don't extend high enough to reach my eye level, requiring either bending or stooping or both to look through the viewfinder. The G12's screen turned upwards means one can happily use the camera on a low tripod for hours at a time. Ah! bliss.
For me, photography is all about enjoying the experience of taking interesting photographs and less about the current fashion of having the latest or technically the top rated gear. The best gear for me is that which brings me the happiest day out and that's not necessarily the sharpest lens or smallest size etc. I'm keeping a tight hold of my G12 and clinging on to photographic happiness for as long as possible. Thank you DxOMark for pointing out the differences and helping me stay happy!
Am I bucking the trend here?