So I got myself a Yi M1 and a Lumix 14 mm 2.5 lens off Aliexpress for about 32 K (along with the Mi kit lens that I have not used). I also used a the hand lanyard to make it a small package.
Initial thoughts, It is small and handy (not as small as Ricoh GR) but certainly not pocketable in the way the GR is. Fits into my jacket pocket. Grip is so-so and I have large hands.
The package is good to hold. I also updated the firmware and it is now better.I shot some pictures on RAW(DNG) and the photo quality is pretty good.
The problems: Not as responsive as the GR, appreciable shutter lag that persists even when shooting in manual mode, may cause missed opportunities . A bit of a delay (around half a second, maybe less) between shots while in AF-S mode. I wish there was a way to turn off the screen to save battery life or make the camera even less obvious but that is not possible (maybe can be fixed up in a firmare update).
Auto WB and metering is pretty good. Battery life is decent.
Will update as I gain more experience.