The P&S market has been squeezed from both sides. Smartphones have taken away a lot of market share, but so have mirrorless cameras. The entry-level enthusiasts

The P&S market has been squeezed from both sides. Smartphones have taken away a lot of market share, but so have mirrorless cameras. The entry-level enthusiasts who might have once bought a $400 P&S are now overwhelmingly opting for a mirrorless ILC instead. For a slight increase in size, you get better handling, a vastly better sensor and the flexibility of interchangeable lenses.