|Sony RX100 Mark IV|
The Sony RX100M3 was one of the best received cameras for first time shoppers and young families looking for something to take quality photos with.
The RX100 cameras have never been inexpensive, but since the very beginning they have been universally well regarded. Even if they are loaded with specs that appeal to hardcore enthusiasts, the product line has successfully crossed over from high-end enthusiast to mass-market consumer. This is is no small feat; there are many good cameras, but few at the higher end compel casual shooters.
Taking a step back, the camera industry has gone through a sea-change these past few years. It used to be that if you wanted quality you bought a DSLR, and if you wanted portability you bought a compact. Mirrorless and high end compacts have changed that and made for more choice in between. Whereas before casual shoppers spend somewhere between $500 to $700 USD for an entry-level DSLR, they are now more likely to spend the same amount on a mirrorless camera or a RX100M3. It's a rational choice; for almost the same quality as a DSLR from 3-4 years previous, you get a smaller and more compact system.
The RX100M4, however, will likely not follow in that tend. When it comes to high end products, Sony deliberately aims for the top of the market with their halo products. That was true for the previous iterations of this camera, but there are diminishing gains to contend with. the RX100M4 has cutting edge technology and performance. Conceivably, one day it too will be an older camera that is overshadowed by the next biggest thing, but even when that day comes, its biggest competition will still be its predecessor.