It was a matter of time. They were focused on m4/3, which was a good system. But phone technology evolved quickly.

Most pros or prosumers go for the higher-end APSC or Full Frame lineups. In my experience, they don't take the m4/3 stuff seriously.

For regular folks, m4/3 is too expensive. For the same price, they can use their phones (or buy an APSC camera). The quality is negligible thanks to all the software enhancements the phones do.

Panasonic is at least focused on video. That helped their market a bit. But who knows how they'll do in a few years? They've entered the saturated full frame market. Pentax is probably in trouble too. They don't even have mirrorless offerings.