Michael, I think you have summed up the camera nicely. For many years, the G series was almost the only option for those photographers wanting a "high quality pocket camera". However, the mirrorless market caused quite a stir, and the likes of the G9, G10, G11, and G12, while still good cameras, could no longer compete with the other ones. They were and still are, good cameras, but in the end, they were let down by the sensor size.
Enter the G1X, and Canon did the obvious; they increased the sensor size, to close the gap with the competition. The G1X has the G series DNA, but it also has its defects: middle of the road AF, and a laughable VF.
As you rightly say, Nikon, as of late, has been doing some very interesting stuff, including in the mirrorless market. I ended up getting a Nikon 1 J1 as a pocket camera; the sensor is good enough for me, and the whole thing is much more fun and responsive to use, compared to the G1X.