Eh, what can they really innovate in that spectrum? They already have the whole 24-xx spectrum covered; they just need to update the 28-135.
Not really, on both counts. This looks like Canon is trying to build some new low-end kit lenses for convincing people to switch from crop-body cameras to full-frame cameras. If you want to get the low-end consumers to move from EF-S to EF, you need a lens that will feel similar to what they're shooting with now. Lots of folks shoot with the 18–55 kit lens, which is angle-equivalent to about a 29–88. For those folks, a 24–85 lens is a pretty good match—wider at the wide end, and only slightly wider at the long end.
The big problem I see with this is that they're adding this lens into a market that already offers a better full-frame kit lens (the 24–105), with more reach, and a bigger aperture (except at the widest setting), for not a whole lot of money. If this lens costs, for example, $500, I'd expect most folks to instead pony up the extra couple hundred bucks for a white-box 24–105. The tiny bit of extra light gathering at the wide end can't make up for the loss at the other end, and the extra reach of the 24–105 gets it a lot closer to what most EF-S camera users use. The only way this lens makes sense is if it is just ridiculously cheap—we're talking shorty forty cheap.
In other words, I'm not sure why they bothered. But more than that, I really don't understand why they would produce a FF equivalent to the kit lens, but not to the step-up lenses. Of the crop-body camera owners who upgrade to a step-up lens, I'm pretty sure the majority choose either either the 15–85 or 18–135 lens, and Canon has nothing equivalent to either of those lenses. The closest they come to a FF equivalent of the 15–85 is the 28–135, which is noticeably less wide on the wide end. And Canon doesn't have anything even remotely comparable to the 18–135 unless you either include discontinued lenses or the 28–300L monstrosity.
So... I just have no idea what their marketing people are thinking. IMO, Canon seriously
needs consumer-grade, image-stabilized 24–135 and 28–250 lenses. They sure as heck don't need a 24–85. Just my $0.02.