Frankly, the G line is dead.
...until the G2 X comes out next year, at any rate. The G1 X is outselling the Nikon 1 on Amazon. Believe it or not, there are people out there that don't want to muck about with changing lenses. Just no one on this forum...
The EOS-M is being introduced at the exact same price as the G1 X -- that alone should be all the confirmation you need of the demise of the G line.
There are like 20 PowerShots all within a few $$ of each other. How does the fact that two different types of cameras have a similar price mean one is going away?