Whatever it is, I probably can't afford it. If it is a FF cinema camera, I doubt that it would use EF lenses.
Cinema quality lenses are a whole different product than EF lenses, with a price to match. Thats why they are usually rented.
My thoughts as well... the cinema world is an ambitious step, and I might say that it's even too ambitious for Canon the Consumer Company.
Even though the EF L series lenses can look nice on video, the step up is definitely visible on the pro cinema lenses ranging from 5k dollars and up a piece. If I indeed did invest in something in the range of RED or Alexa, I would never humble myself to use anything less than Zeiss CP, and most likely I would try to find the finances to step it up one or two notches.
On the other hand... maybe Canon is just blowing out steam to avoid people running away from their aging Eos series to one of the competitors... like Sony or Pana
It would buy them some time to get closer to the Ds and mk III release and have people "uuuuuuhhh" and "ahhhhh". Never underestimate fanbois.