Zack,Theoretically, G7X is Canon's response to the RX100 and apart from the legacy, is actually the better option between the two.
My only fear with switching to a fixed lens camera is its limited range. I don't need the ultra-high quality of the DSLR but losing the versatility makes me anxious. On the other hand, the portability of a G7X/ RX100 will allow me 10x more pictures and eventually more keepers (more for memories rather than creative achievement).
Do not fear, I am with you.
I have 6 DSLR's from D4 to D70 and array of lenses, even then I went and bought V1 (CX) 1 inch with 2 lenses and then after 3 months bought another V1 with other 2 lenses. These days V1 is my most used camera. I bought 2 V1 because I use them a lot for timelapse photography.
Unless you are shooting for money 1" sensor will be more than enough for any photography.