That Canon is so ignored it's not funny. The LX100 costs more, with a somewhat even tradeoff of features and capabilities vs the G1XMKII. But the Panasonic has been hailed as the second coming, while the Canon is treated like just another Canon.
I think the thing about THAT particular Canon is that it uses a sensor that really is out of date. It's not a bad sensor at all, but if they'd have sourced a modern Sony sensor up to the same standards as the one in the G7X but at the G1X mkII size of 1.5", it would be a lot better both in DR and in low light (although it's already pretty good in low light). DR doesn't matter to everyone (just look at some of the great images Nic has done with the original G1X), but I find I like having as much as I can get when I'm processing files and the files from that camera would frustrate the hell out of me - I pulled some raw files down from some website and played around with them and it really makes a difference. If the G1X mkIII updates the sensor and maintains or improves on the spec of the current camera, I could imagine using a camera like that to the exclusion of much of my other gear for a lot of shooting. Of course, that's what I said about a camera like the G7X when I first used that sensor a couple of years ago and now I have a G7X and like it a lot, but no way I'll choose it over my better gear when I'm going out primarily to shoot photographs. So it seems like every time there's a big jump in the quality of compacts, there's a commensurate jump in the quality of larger sensor cameras and the gap between the two will probably always be pretty real.