Ever since iPhone cameras became capable of replacing standalone point-and-shoots, interest in low-end digital cameras has declined. Emboldened by Sony’s release of the well-regarded prosumer RX100 series, Canon looks to have gotten its groove back with the new PowerShot G7 X ($700). The pricey new pocket camera is only a little thicker than Canon’s S-series models, but packs a comparatively huge 1” sensor with 20-Megapixel effective…