In which case best not to finish your post by citing 'the laws of physics' as your point of reference!
It is indeed 'what it is', not what you think it is. AlterEgo just explained it in his post above - it's not 'in the field' but rather 'in the raw converter'. You want to make a valid comparison ? - then you need to follow both BJL and AlterEgo's advice to come to a valid conclusion. Yours is a misguided premise.
Your eyes and your clients' will likely see blurring due to OOF effects, subject motion and camera motion, and if your clients' expectations require limiting those sources of blurring by suitable choice of aperture and shutter speed, then "in the field" the Fujifilm [Fuji is a company that makes bikes, not cameras!] camera will probably need to use a higher ISO speed. So why do you insist on comparisons at equally high ISO speed, meaning with less DOF and/or a longer exposure time with the larger format? Is all your work shot wide-open on fast lenses?
Sometimes it seems that the digital transition has reduced photographic IQ discussions to looking at signal noise an pixel counts!
when somebody comes and says 2x2=5 what do you expect :-)... if you want to talk about your eyes then there are other specialists out there.
The smaller m43 sensor offers a narrower IQ shooting envelope than APS-C X-Trans. Similarly, APS-C falls short of equivalent generation full frame sensors using the same measurement metrics. I shoot extensively with all three formats, for clients, and see it time and time again. I know which tool to choose for any given situation … and which one simply won't cut the mustard in another.
Let's leave IBIS and other electronic felgercarb out of the discussion, since that's only useful in certain specific shooting situations, and a discussion of a different nature. I'm talking strictly about sensor performance.
- Fine detail disintegrates faster on the E-M1 as ISOs climb than it does with the X-T1. This has been demonstrated repeatedly in real world shooting scenarios.
- The E-M1 produces more noise at ALL ISOs than the X-T1. Again, there are countless examples of this out there if you want to search for them.
Frankly, it's obvious, and I'm not even sure why it's a debate. I guess it's why I typically avoid wading into this kind of fora.
Have a nice day.