I agree that the best strategy is to keep the M series. My guess is that the APS-C R cameras will replace the Rebel DSLRs and perhaps include one higher end model. The M series has always been aimed at those wanting the most portable and light ILC system. The fact that some higher-end users think it should be a full fledged system with all the same lenses as the EF or now the RF mount is pretty much irrelevant. Canon has always been smart enough to know that the number of buyers who want duplicate systems must be very low, so they have kept the lenses in the M system to a minimum ( and kept them small and light) - at least that is my opinion, since I have no market research info.They won't. I can't see any reason why the M series and an APS-C line in RF mount can't co-exist. There's plenty of room for both, as they are aimed at different markets, and Canon has the capability to maintain both lines.
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