It will be an attractive lens to someone who wants the "all in one" approach such as for travel. The price gets bashed by everyone, but that is the introductory price. The price of the fantastic much-in-demand 24-70/2.8II is already down a few hundred dollars, so this one will likely head the same way.
The focus shift should be investigated further. They only tried it at 70mm and without autofocus. Apparently, the lens is not sharp for close-up work at 70mm at f/4, but who buys a macro for wide-open aperture work? Their example shows a much sharper lens in the f/8 example (not just more depth of field). Someone should test whether the focus shift is a genuine problem at smaller apertures, or whether depth of field covers it. It's possible that at 50mm and f/8 and smaller there is no problem at all.
It may not meet some people's strict definition of "macro", but at 0.7X it is more macro than the 50/2.5 compact macro. For some photographers this is a win: it means one less lens to carry, one less lens to change.