Canon ELPH 130 has a
16.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized BSI-CMOS sensor and features DIGIC 4 processor. On the other hand, Canon M200 has a
24.0MP APS-C (22.3 x 14.9 mm ) sized CMOS sensor and features DIGIC 8 processor.
Canon M200's sensor provides 8MP more than Canon ELPH 130's sensor, which gives a significant advantage in real life. You can print your images larger or crop more freely.
On the other hand, please keep in mind that Max sensor resolution is not the only determinant of resolving power. Factors such as the optical elements, low pass filter, pixel size and sensor technology also affects the final resolution of the captured image.
Below you can see the ELPH 130 and M200 sensor size comparison.
As seen above, Canon M200 has a 11.8x Larger sensor area than Canon ELPH 130. Larger sensors give photographer more control on the depth of field and blurry background compared to smaller sensor when shot in same focal length and aperture.