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What is Lumix working on?

Not at all.

First, other companies have shown it can be done with cameras like the A7C.

Second, the S9 already has IBIS, which is one of the bulkiest bits. Adding a shutter shouldn’t make it any thicker; the sensor-to-mount distance is a part of the L-Mount spec, and other L-Mount cameras fit a shutter in there just fine. You might have to make it wider to fit in an EVF, but that’s it.
Sony made some technical things different that allows a mechanic curtain. Especially the grip made it possible to rotate the battery 90° and add some space for components. Panasonic has decided to go without a grip for the S9, but remain the same battery type as in the S5II. The shutter it self doesn't seem big, but the drive for the shutter is in deed a little bulky. If Panasonic would have made the S9 with a grip to fit a part of the battery or opted for a smaller battery, they may would have had enough space for a shutter.

The EVF maybe could have been done with the current S9 design, but the opted against. Maybe because of financial reasons. However they did put in a better display compared to Sony and the EVF in the Sony isn't good. I personally would prefer a better display and no evf instead of to a bad display and a bad EVF.

Also there seems to be a market for cameras without EVF. Every manufacturer has released some cameras without EVF and it looks we are seeing more.
I agree, but we shouldn't forget that the S5D or the S5 original are the entry level photo-centric Lumix FF cameras, imho... they just don't have pdaf, but the AF is more than good enough for photo work.
I think we should forget about the terms photo-centric or video-centric. Especially when talking about Panasonic. They always put everything video in every camera what they can, but the also put everything photography in every camera. They don't make just photo cameras. They make hybrid cameras. The market for only one clientele would probably to small at this stage and all manufacturer seems to see video as growing part of the industry.
I think everyone should look up what they need and buy the camera that covers it best for a price they are willing to pay. Doesn't matter what else it could do.
 
The EVF maybe could have been done with the current S9 design, but the opted against. Maybe because of financial reasons. However they did put in a better display compared to Sony and the EVF in the Sony isn't good. I personally would prefer a better display and no evf instead of to a bad display and a bad EVF.
Not engineering qualified enough to speak on the shutter; but I can't agree with this, in any way, shape or form.

I've documented here how rear screens wash out in bright sunlight. I often shoot in bright sunlight. Even an EVF that 'isn't good' is still much better than a rear screen that isn't readable. It's the difference between usable and not usable.
 
They already sort of cripple the S5ii compared to the X by having a paid upgrade for the codecs.

I don’t know if it is still the case but Audi and Mercedes decided to put some features in all cars and only enable them when the owner buys a subscription for it. I.e. seat and steering wheel heating etc.

I hope that a subscription model is not coming to camera hardware….
 
Not engineering qualified enough to speak on the shutter; but I can't agree with this, in any way, shape or form.

I've documented here how rear screens wash out in bright sunlight. I often shoot in bright sunlight. Even an EVF that 'isn't good' is still much better than a rear screen that isn't readable. It's the difference between usable and not usable.
For you, but I cannot even see well through the S5iiX viewfinder, and I do have a aftermarket eyecup to make it at least a bit usable.

A S9x, with viewfinder would not be useful for me..

And I see none of the younger generations use a viewfinder...

I don't expect a S9ii soon, There are a lot of other cameras which I presume would sell better, like the S1Hii, a boxcam, etc etc.

Actually, the most photocentric camera what they now have is the S1RII, and I don't see raves about the photo quality online (although it is very good). The video quality is praised a lot though (at least the colors, you see some negativity about the rolling shutter, but not by people who REALLY know what about video, and not some mumbling about a sheet with info, without knowledge WHAT is really important).
 
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