The thing is that Canon is now failing to capture people "stepping up" into real cameras. Thus it may be that the wave of Canon owners has surged and is now a swell moving towards shore.
It may be, or not. It's not like Canon is ignoring the MILC segment entirely. Granted, the M was basically a flop outside of Asia (at least until the fire sale), but the MILC market as a whole is fairly weak outside of Asia, and that was even more true when the M launched.
As for the EOS M in Asia, don't forget it was the #2 best seller in Japan, beating out models from established brands like Olympus, Panasonic and Fuji and only a few percentage points shy of Sony's top seller. Canon's Dual Pixel AF is tailor-made for MILC applications.
So before concluding that Canon has missed the wave, consider that on a global scale, the mirrorless wave is still quite small. Inexperienced surfers may catch it, but it's not yet going to lift profits high enough. Once that wave gets big enough, it may well be that the Big Kahuna will ride it to the top, perhaps knocking a few little surfers off their boards on the way up.
Looks to me like CaNikon are using the classic business gambit "let the upstarts and little guys go broke creating the market. Then, when the market matures, swoop in with better products at lower costs, crush the competitors and then buy whatever companies are left that have good internal tech". This happens in Silicon Valley every day. Of course this strategy can backfire with tragic consequences. The idea that Canon can build the 1Dx but can't build a quality mirror-less defies reason.
I tend to agree with this too.
To my way of thinking, mirrorless cameras have two huge flaws. One is that the AF system is terrible, and the other is that the EVFs are terrible.... or at least it was in the past....
DPAF seems like it was designed for the EOS-M. I do not believe in coincidences, but I do believe that research and development projects often take far longer than planned... I think that the EOS-M was designed to be sold with DPAF and now that it is out, I expect to see a new EOS-M variant which has it.... this will be the king of mirrorless AF unless there is a significant surprise from someone else.... this also gets rid of one of the two flaws holding mirrorless cameras back.
The other flaw is the EVFs.... and they are getting better, faster and higher resolution. Some of the latest ones are starting to rival the optical viewfinders... They may not be superior, but they are certainly good enough for the masses....
So let's say Canon comes out with an EOS-M with DPAF and an optional high quality EVF.... it will probably sell well... and there goes the "mirrorless will never be accepted" crowd.....