What you are saying is equivalent to saying that Chevrolet Corvair was fully capable for what a sane person wanted to do with the car. That is, driving slowly on a straight highway. Sadly, the car oversteered in fast tight turns, killing dozens of people. Oops. These were just insane boneheads who did not look into their composition, I mean, did not drive slow and straight.I think for what you want to do with the camera, same as me, it is fully capable. I think you will find too often there are certain people here who attack the camera when they should be looking into their composition.
I don't think that the Corvair had a "To be driven very slowly" sticker. I don't remember the GH1 having a "Do not shake, do not pan/tilt fast, do not put too many detail in the frame" sticker.
Philip, I find your explanation very plausible. I want to believe that Panasonic did not cripple the GH1 deliberately (but then why it did not use native 24p? Oh, well.)