There is no "one size fits all" in the end. The Nikonians themselves are divided over the best resolution for the D800(E).
[NR] Poll: Nikon D800 with 36MP or with 16MP sensor?It's extremely hard for any company to please everyone. When the 7D specs were first revealed, many complained that the 18MP was too much and will affect the ISO performance. I personally don't use all the resolution the 7D has to offer but I'm fine with its low-light capabilities. So now when Canon decided to go the other way, they are again criticized for falling behind competition with their MP count.
In the end, there is no right or wrong. A company will not release any product without thorough market research. If Canon ended up releasing a 22MP 5DIII, this must have been what their market research indicated they should do. Whether it's a right or wrong move remains to be seen. Who knows, maybe an MP monster is also in the making.
I realize that studio photographers (and maybe wild life ones) would like to see a camera with the biggest MP they could possibly get. One has to ask what percentage of Canon's potential sales does this segment make. If the bread and butter is somewhere else, that's what Canon would naturally focus on. As a publicly-traded company, Canon has the responsibility of maximizing their shareholders' value by pursuing what the company perceives as the most profitable venture.
No one should be emotionally invested in a company (unless they own a huge share of it

). I may or may not like certain decisions a company makes. If I'm highly dissatisfied, I can just take my business elsewhere. I can complain and say "the company doesn't get it" (and I may or might not be right in that regard). If enough people started complaining, the company should/would start to notice. Hmm, isn't that what actually happened with the MP and, if the specs are true, the AF? We can argue that Canon has actually listened to what their customer want in one regard. The price, as other mentioned, will be set by the market. If people perceived value in the company's offering, they will buy it. Otherwise, the product will just sit on the shelves. Remember how the price of 50D dropped quickly shortly after introduction because of the fierce competition from the D300? If people perceived that the better value is offered by the D800(E), they will just buy that and Canon will be forced to lower the price of the 5DIII in order to entice more customers to buy.
Personally, I'm completely satisfied with the the rumored specs of the 5DIII; not so much the rumored price. I will wait for the second patch to give Canon the time needed to correct any issues (remember the black dots in the 5D2?) and allow the price to drop a bit. Nikon makes wonderful cameras but I currently prefer the Canon system as a whole. Others may agree or disagree with my stance and they are free to do so. I'm sure each has his/her reasons.
That said, I appreciate all the technical details and discussions everyone brings to the table. We all should take these with a sense of humor and openness. There is no need to question other people's ethics or call them names. Just be cool and carry on

An interesting quote:
"If you attack people's opinions, many react like addicts" - Bernie Siegel