Someone on this board I believe has said multiple times that the strange thing about the M is that it benefits those who already know about photography/cameras more than those who don't, which is strange considering the price point and the entry level nature of it.
Having received mine the other day I feel the same way. Just one example: the big, clear LCD is great for manual focus lenses, and the ability to touch a point on the screen and zoom right into it quickly for precise MF is a boon. Of course my 5DIII can do the same in liveview, but I need to move the focus area with the little directional button to the right of the screen. It's actually easier and a lot faster on the M due to the touch screen. But how many people with an M are going to use MF or MF lenses? Not a whole lot, I imagine.
Anyway, big picture I think the M - especially at ~$300 - is perfect for those wanting to supplement their current gear, not replace it. If Canon came out with a FF mirrorless body, about Leica M size, with killer EVF and some small, sharp primes and good little zooms - well, IMO that's a replacement for a DSLR system, not a part of one. I think a lot of people are disappointed in the M because what they're really after is a replacement.