Short answer - Yes. You could in theory do that, and it would probably look good if focused correctly, properly exposed, and shot with a reasonable shutter speed to minimize motion blur. If you only shoot JPG and don't edit a lot after the fact, this is fine because most cameras encode JPG files at 8bit color depth with the equivalent of a 4:2:0 subsampling scheme which is the same way the G7 shoots 4K video. Now, the G7's H.264 compression is not the same as a JPG and you might see a drop in quality, but for fast stuff it works.
If you shoot RAW/TIFF images primarily and edit a bunch in post, this will not be a good fit for you. A higher quality still image is usually 12- or 14-bit (sometimes 16), whereas a JPG is 8-bit. A JPG will offer you 256 possible tones/colors per pixel, where 14-bit offers 16,000. Where this really matters is when you're editing. An image with 16,000 possible tones per pixel will hold up much better when you crank contrast/make adjustments than one with 256 possible tones per pixel. In a rough comparison, a 4wd vehicle with large tires will have an easier time on muddy Kansas clay roads and freeways alike than my little 2wd sedan.