$3500 may be too much for you, but what makes you think it's too much for everyone else? Sure I'd love the thing to be $1500, but I'm trying to be realistic. The first batch is going to sell before it even hits the shelves, why should Canon not take advantage of that? Out of the kindness of it's multi-billion-dollar heart?
Just because strong initial demand makes it possible to inflate the price does not mean the manufacturer will inflate the price. Such a practice carries a high risk of bad PR.
It can't get bad PR regardless of price. Preorders will overflow in a matter of minutes... even if it was $4000 body only.
All video people are salivating over this update, tired of "video" cameras being awful for video, 4x (to 100x) the price, and 5x the needed size.
Artifacts finally removed, rolling shutter reduced... This will be the best possible camera for the purposes of 99.5% of the people who need video.
The .5% will be resolved with 4k/global shutter/raw(or at least full HDMI out).
All these people have been waiting very (im)patiently for Canon to stop releasing the exact same camera - 7d (t2i, t3i, 60d). They will swarm to this. Production facilities will buy large quantities, because they're still relatively dirt cheap.
Also, I expect Chris Dodd will personally be buying up several mass shipments just to defecate on in a misguided attempt to save Hollywood.