A difference between IBIS and lens based stab. is that with the optical elements at the nodal point on the lens, the module only needs to move a microscopic amount to have a very large affect on the sensor. But sensor based IS is different because the sensor needs to move the entire amount of the shake at the rear of the camera. It also has to account for the wobble of the lens itself. Lens based IS can deal with larger movements than can IBIS.
While controlling the module in the lens can be quite difficult, it’s been refined for decades by Canon. In fact, it worked well way back then on video cameras for which it was first developed for photographic purposes. Yes, it was used in binoculars early on, where shake can be quite a problem in the higher magnification lengths.
One variation of IBIS has a sensor with a much larger sensing area, and pixel count, than the image needs. As the image moves around on that large sensor it can account for some camera shake. It’s not really used much because it’s not effective on all modes of shake.
But again, IBIS simply doesn’t look as good when everything is considered. There’s a difference between sharp, and etched. In lens looks sharp, while IBIS looks etched.
It’s better than nothing, but since cost is the real issue here, not quality, we see that Sony also has in lens IS. Wonder why?