I own a Olympus OEM-D5 MkII (with both a 12-40 2.8 pro and the 12-50 EZ) and a Sony RX100 V. To resume it to a single phrase, underwater, the Olympus does come nowhere near the RX100M5 ... in nothing, nor in the pictures, nor in the ISO noises (despite the much larger sensor), and especially not in making videos.
In the details, the advantages of the RX100:
- It's lighter (and the housing is lighter too, it's a bonus when you travel a lot);
- It's faster in everything (shooting pictures, focusing, start/stop recording,..);
- The colors are much more natural without touching the original pictures, without using a custom WB, and without using a red filter at every (recreational) depth;
- It's more versatile: with the Oly I have the only option to use the EZ lens with my case and anyway you're stuck with a single configuration; with the RX100 I can use wet lenses to switch from wide to macro in a matter of seconds (I use a flip adapter);
- The videos are from another planet... you don't even try to describe the difference, leaving aside the 4K resolution, the 1080p@120fps is the awesomeness for the post production;
I didn't believed that a camera with a smaller sensor (if compared with a mirror-less) could have produced a such incredible results. I have seen lot of RX100 V videos on youtube and I thought "ok they are shot in perfect conditions" .. but it's not the camera really produces that high quality.
The downside? The price.. it's a very high cost for a compact camera, but considering that is capable of doing better than my Olympus (with the 2.8 the oly costs 1,700€ here in Europe, versus the 900€ of the RX100M5), I don't think it's a cons anymore.
