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> the M4/3 is having to be the crop factor equivalent distance AWAY from the subject. Less signal, more noise.
Well, to be clear, this is a function of lens too, but it's true if focal lengths are the same (not 'equivalent', but truly identical).
And just to make sure I understand, if the cropped sensor takes the same pic as the FF sensor, they can achieve the same quality (hypothetically) by using the appropriate lens right?