Shaped bokeh works best when the cut-out is effectively acting like the lens aperture, which usually means using a very fast lens and placing the mask close to the entrance pupil. That’s why it’s commonly demonstrated on DSLR lenses at around f/1.4 to f/2.8.

On compact cameras, two things make this much harder:

1. The lens is much slower — many compacts have relatively small maximum apertures (often around f/5.6 at the long end). A small aperture gives less pronounced blur, so the bokeh-shape effect is weak.
2. The optical layout is less favorable — on a compact zoom, the actual aperture is buried deeper inside the lens, so a paper mask on the front is too far away from where it needs to be. Instead of shaping out-of-focus highlights, it simply blocks part of the lens’s field of view and causes vignetting or a visible obstruction.

So the trick isn’t impossible in principle, but compact cameras usually don’t have the fast aperture or lens geometry that makes it work well. It’s most successful with interchangeable-lens cameras and bright prime lenses.