It looks like the previously rumored Canon RF 100-500mm f/4.5-7.1L IS USM is also getting a development announcement with the Canon EOS R5.
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Canon announces development of the EOS R5 next-generation full-frame mirrorless camera and new RF series lenses | Canon Global
Unfortunately I'm pretty certain they're referring to the image.canon cloud for an April launch.
With the size of the RF's 70-200...it's not just sensible, it is a pretty good one :)
Smart money is that this is simply a 100-400 f4-5.6 that tosses in the bonus feature of pulling that front end a hair more to reach 500mm. Should be the same quality as the current, enhanced as RF enables, with a bit of a stretch on the long end for when conditions permit.
$1999?
The wording in the IBIS section makes it seem that IBIS will only work with RF IS lenses and non-IS lenses, with EF IS lenses it will be likely disabled. If that's the case, add $300 or so to the price.
I wonder?
As long as IBIS works with non-IS lenses like my Questar 700mm f8 mirror lenses, I'm OK. And for the non-IS 11-24, etc.
But it may be a tech challenge to get two IS systems to work together and not fight each other when one is a legacy system.
You're right, from the images of the RF teleconverters they clearly won't work with the RF 70-200. The big question is how they'll work with EF lenses and EF-RF adaptors.
Not just the images, have a look at https://www.canon.co.uk/lenses/rf-70-200mm-f2-8l-is-usm-lens/specifications/ and scroll down to "Extender Compatibility".