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Chief Editor - opticallimits.com
Doing all things Canon, MFT, Sony and Fuji
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f4.5 x2 = f9, +2x TC = f18.
Luckily MFT is exempt from the diffraction of light.
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You forgot the internal 1.25 teleconverter, so we are at f/22.5 :-)
With an ND filter simulation built into the camera, aperture blades are overvalued.
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Well, a "native" (x1.25=) 187-500mm f/5.6 = FF equiv 375-1000mm f/11 is not that bad - even from a diffraction perspective.
It may be interesting whether the HD mode is still working at 1000mm hand-held ;-)
But with a 7.5 EV total efficiency, it should be quite cool.
Chief Editor - opticallimits.com
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Wonder what the price is going to be like?
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If you look at Fuji, they charge for their 200/2 the same as Nikon or Canon for theirs. Which are FF.
So, I think it will be not too far away from a 200-400/4 (older versions)