I've come to a conclusion that for IQ, it all depends on your final output.
For my large prints (16x20 and higher), IQ is very important and to achieve that I use a high MP camera (42MP Sony A7RIII) and lenses that can resolve it.
However, for social media or printing 8x10 photo books I actually find smaller sensors are more than capable. I've done 8x10 prints of photos taken with my iphone that I'm proud of.
Right now I'm exploring photography using P&S cameras, I purchased an Olympus Tough TG-5 (1/2.3" sensor size) as my daily/street camera as it is more rugged than my iphone and less intimidating than a more professional looking camera.