Nikon 1 V1 is already quite old camera but it is clearly the fastest focusing camera I own. And that is a big asset in many situations, especially with lively children. Another asset is the wider DoF the 1” sensor offers. That combined with a nice (and inexpensive) 18.5mm/1.8 lens (50mm equivalent) gives a perfect DoF/background blur compromise. Actually that lens produces quite nice bokeh and is very sharp wide open.
I think I would have sold my V1 if I had not got the 18.5mm prime. It is so good lens that I think everyone having Nikon 1 series camera should buy it. I promise it will open a new world for your Nikon 1 photography.
Here are two latest shots with my Nikon 1 V1 equipped with the 18.5mm prime. Both shot wide open (f/1.8).