The level of crazy here may be reaching an all-time high.
Let's take it a step further. Instead of a some stripped-down crappy full-frame "entry level" camera, why not an APS-H entry-level camera instead? Sensor would be cheaper than full frame so Canon could undercut Nikon. Could be about the size of the 60D with similar build quality. Less processing power needed than full frame. Better frame rate, etc.
And, since we're going crazy here: designed to use APS-C lenses. (Why should physics get in our way?)
Now, even I could be interested in a body that turns my 15-85 EFS lens into a 20-110mm equivalent. Of course, I would still want a 7DII, but I'd consider something that makes my lenses wider at the short end worth considering. Since I've already got the Tokina 11-16, it would be sweet to use it as a 14 mm with no vignetting.
Maybe it's really full frame that needs to go the way of the dinosaurs.