IMHO, Canon doesn't need to compete with Nikon, and why should it?
Nikon can continue to produce whatever they like... if you like what they have... please go to Nikon.
Canon has nothing to prove...
They can't afford to cough up a brand new camera every year.... and if they do its going to be Rebel.
If you can afford a camera every year, then you can afford to jump between brands every year.
Fact is... Canon released the 1DX, 5D Mark 3 and the 6D, 2 years ago.
They also released the 70D last year...
May be a 7D mark II is on the way, but they don't owe us anything... so don't expect it.