"Sensor vs glass quality vs MP"
The sensor size and the MP relate to each other.
Image sensor sizes, from big to small are - medium format, full frame, APS-H, APS-C (Nikon DX, Pentax, Sony), APS-C (Canon), Foveon (Sigma), Four Thirds, Nikon CX, 2/3", 1/1.7", 1/2.3".
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A 10 MP full frame image sensor's individual pixels are roughly twice as big as the individual pixels on a 10 MP, APS-C size image sensor. This is known as 'pixel pitch'.
If you pack 20 MP onto a full frame image sensor, it will have about the same pixel pitch as a 10 MP APS-C size image sensor. However the full frame image sensor will have more resolution.
The bigger a pixel is, the more light it can record, which generally means a lower signal to noise ratio. So bigger image sensors usually have better ISO performance.
Bigger image sensors cost more to make. so the cameras they are used in also cost more.
Another factor many overlook is that the image sensor in a digital camera has a filter array in front of it. The filter array blocks UV and IR light, includes a low-pass filter which provides anti-aliasing (AA), and for all except the Foveon image sensor, a Bayer Array that the camera image processor uses to interpolate color. (Image sensors can't record color, and only record luminosity.)
Of those filters the AA filter effects image sharpness. The aggressiveness of the AA filter usually varies by camera model, though some cameras in a makers line will share essentially the same image sensor. Aggressive AA filters soften focus more. Less aggressive AA filters are more likely to allow aberrations like moiré, but deliver sharper images straight out of the camera (SOOC).
The next issue to consider is lens performance (resolution) relative to image sensor size.
Up to a point, lens resolution exceeds image sensor resolution, and lens quality is often a minor issue since the image sensor is the limiting factor. As pixel density increases, a point is reached where image sensor resolution exceeds lens resolution. At that point lens quality become very critical because the lens becomes the limiting factor.
For cameras like Nikon's 36.3 MP, D800 full frame camera, the full benefit of the image sensor's resolution will likely only be realized by using the best professional grade lenses.
Kind of ironically, for electronic display anything over 10 MP or so is a waste unless someone will only look at a small part of a photo at one time.
Nikon's D800 delivers images that have pixel dimensions of 7360 x 4912 pixels. My 22" desktop display can only show 1600x 1220 pixels at a time.