When the trade-off changed hands
Film had grain. A silver halide crystal either exposed or it didn't, and the clumps those crystals formed in the emulsion were a physical structure you could hold a loupe to, measure and, if you liked the look, court deliberately. The sensor replaced grain with noise, and the two are not the same thing — similar in effect, different in origin, and subject to different rules.
A digital sensor is a grid of photosites, each one a photoelectric well that collects photons and converts them to a voltage. The number of photosites determines resolution; the physical size of each one determines how much light it can collect before that voltage becomes unreliable.
A full-frame sensor with twenty-four million photosites has smaller individual wells than a medium-format back with the same count, because the same count is spread across less silicon. More photosites per unit area means each one is smaller, and a smaller well has a lower ceiling — its full-well capacity — before it clips to white, and a lower floor before thermal and electronic fluctuations contaminate the signal.

That contamination is noise. It comes in two main forms. Read noise is generated by the readout circuitry itself: the electronics that interrogate each well and convert its voltage to a digital value introduce a small, random error. Shot noise is more fundamental — it is the statistical variation inherent in photon arrival itself.
Even a perfectly engineered sensor cannot escape shot noise, because light arrives in discrete packets, and the mathematics of random arrival means that a well collecting a hundred photons on average will not collect exactly a hundred photons every time. The noise (standard deviation) scales with the square root of the signal, so brighter areas are proportionally cleaner than dark ones.
This is why shadow areas go first. Lift the shadows in a raw file and the noise, already resident, becomes visible. Push the ISO — which means amplifying the voltage from each photosite before readout — and you amplify the noise along with the signal. The arithmetic is merciless: you cannot amplify information you never captured. Reciprocity failure in film had a similar character in practice, the image degrading at the extremes of the exposure range; noise at high ISO is the sensor's version of the same wall.
The size of each photosite matters more than total pixel count for any given sensor format, which is why a camera with fewer megapixels on a larger chip can outperform one with more megapixels on a smaller chip in low light.
The arithmetic is merciless: you cannot amplify information you never captured.
A larger well collects more photons before statistical variation overwhelms the signal. This is the same logic that drove the move from 35 mm to medium format in film work when tonal smoothness was the priority. The physics of collection — how much light you can gather — was never suspended; it was only translated.
What changed is what the noise looks like. Film grain sits in the image plane as a physical object with structure, texture and a distribution shaped by the chemistry of the emulsion.
Digital noise is a statistical artefact with a different spatial character: luminance noise — random variation in brightness — tends to look granular in a way that reads as grain-adjacent, but colour or chroma noise introduces random shifts in hue that have no film equivalent and are far harder to find attractive. Manufacturers have spent two decades suppressing the chroma component in sensor hardware and firmware, which is why modern high-ISO noise reads more like coarse grain than like a broken television screen.

The sensor, in other words, did not remove the fundamental tension between speed and image quality. It recast it in different materials. Where the grain of a fast emulsion was a consequence of the crystal size the manufacturer ground into the coating, noise is a consequence of the geometry of the photosite and the behaviour of light itself. Both are the visible cost of asking a surface to work harder than it was designed to. The trade-off moved; it did not end.
