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I would much rather have the bokeh of f2 on MFT than f5.6 on FF. As you start stepping up in aperture, bokeh gets ugly looking.
You also have to factor in that on FF you're either closer to the subject, or using twice the FL. Both these things improve the bokeh. Also, to get equivalent DOF to MFT, you have to stop down (which sometimes improves the bokeh, but definitely not always).