I think Canon is consolidating their lines slightly which makes sense.
When you look at the previous landscape of the lines (with latest MK #s eliminated)
There is just a huge overlap, especially in the Crop body. Yes, the 7D was the king of the APS-C, but the total gap between 7D - 60D - and T3i in terms of features, performance, etc was not that great and a $1000 difference... A lot of it came down to the quality of the body as the biggest differences, along with AF and FPS
So what I see
1Dx (and possibly a 1DsX) as the Pro body line. $6500 Body
5DMKIII - The Mid Level Pro - Solid all around, $3000 Body - Really becomes a economic win, really a merging of the 5DMKII and 7D lines, so instead of paying $4200 for a 7D and 5D MKII, you save $800 - $1000 and have it all in one body. Yes, you lose the crop reach, but this will be a SOLID all around camera
2D/3D/4D - This will be the high MP beast. It is coming, and my guess is Canon is tweaking the hell out of it... In the corporate minds, better to be a few months slower and have a better body for several years, than rush and be mediocre.
70D - Seriously Upgraded line. Top of the Crop Prosumer Body. Better construction. Weather Sealing, this becomes the $1500 - $1700 crop body, probably 18MP still, maybe up to 21MP, Faster FPS, and likely the same AF.
Rebel T4i - Top Consumer Body. Same overall sensor as the 70D, great video, less bells and whistles, plastic body, slower FPS, less ISO and likely not as good AF.
The nature of the shift is really 6 lines into 4 lines, or 5 lines into 4 depending on how you look at the 1Ds/1DMK line.
This is not a bad thing. I think what this means is an upgrade to the xxD line, and by focusing these bodies a little more, it takes some of the confusion away especially with the T3i / 60D / 7D which are 3 fairly close bodies within $800 - $900 of each other, which then becomes 2 Bodies with in the same range.
One less body line allows Canon to focus on better improvements for their next generation as well as improve their lenses with more resources.