The lower end of the market could probably not care less about interchangeable lenses - they are perfectly happy with a compact.
The higher end of the market insists on image quality - these users already have DSLRs and need a pocketable camera.
I agree with you. I just don't see the market here. And here we have a brand-new sensor and brand-new line of lenses. Chances are, if this thing doesn't sell like hotcakes (probably won't) then prices won't come down in a hurry. Olympus PEN hasn't exactly taken the market by storm.
I think if you look at it as a point-n-shoot with higher image quality than its 1/1.7" brethren plus the ability to change lenses, well then it's kinda interesting. The price kills it though.
If you look at it as a mirrorless DSLR system with a miniature sensor and the same price as a proper APSC cam, then forget it.
what an epic fail.... i only hope canon will do it right.
Epic fail... I say probably, likely.
I sure hope canon gets a mirrorless system going with its APSC chips and an EF-S lens mount. Why manufacture a whole new line, no upgrade path? I just don't get it. Why not use components already being manufactured?