And the reason they max out at f/8 has to do with focal length being very small to begin with. In Nikon P90, for example, the wide angle FL is 4.6mm. And f/2.8 (wide open) leads to 4.6/2.8 = 1.6mm which is already very small. OTOH, on FF sensor, we'd be looking at 28mm/2.8 = 10mm. This is where the DoF equivalence comes into play. Approximately, you'd get the same DOF out of a 28mm lens at f/16 that you would get at 4.6mm at f/2.8 in P90.