In the last couple years, we are finally seeing some compact p&s cameras with larger sensors AND fast lenses, so they are capable in low light.
The 3 versions of the Sony rx100.
The new Panasonic lx100.
The new Canon G7x all come to mind.[/QUOT
Looking at these, it appears I would need to make a trade-off for low light, losing the longer zoom?
Low light is tied to large sensors and fast lenses.
Fast lenses tend to be a bit bigger.
And larger sensors require larger lenses for zoom.
So there are economy point and shoot cameras -- small sensor and slow lens-- that can zoom to 500mm or longer.
On the opposite side -- most dSLR lenses (large sensor) don't really zoom beyond 300mm (and those lenses are very large). 500, 600mm lenses exist for dslrs, but they cost thousands of dollars and are the size of a suitcase.
So yes, to keep the package compact and affordable, you give up huge optical zoom.