I will not be at all surprised if Canon launches two APS-C format R-series cameras at the same time, as suggested in this rumor. They simply can't address the different parts of the market with a single camera.
But, I hope the R7 and R10 specs cited in the earlier posts are wrong. I would prefer the resolution to be the reverse: 24MP in the R7 and 32.5MP in the R10.
Assuming the R7 is intended to be a mirrorless 7D Mark II, it should be no more than 24MP. In fact, that would be a 20% increase in resolution compared to the 20MP 7DII. If these models are intended to be an APS-C "sports/action" mirrorless, 24MP makes more sense. After all, the R3 is 24MP and essentially is the mirrorless replacement for the 20MP 1DX Mark III, both of which were full frame, top-of-the-line, no compromise "pro" cameras with similar sports/action purpose. To meet this purpose R7 needs a high performance AF system, dual card slots (preferably the same... not a mix of types), should be similar in size/shape to R5/R6 and share the BG-R10 with those cameras.... and needs no more than 24MP. Glad to hear it will have IBIS, too. Hopefully it will have fast readout (BSI stacked sensor?) to prevent rolling shutter effect, too.
If the R10 is intended to replace the recently discontinued M6 Mark II, it needs to be 32.5MP like that camera. It would be a good idea for this camera to gain a built-in electronic viewfinder. At the higher price point, the M6II should have had one. In fact, the lack of a built in EVF might be one thing that's worked against the M6II. Yes, a separately sold accessory EVF is available. But it occupies the camera's hot shoe, so cannot be used at the same time as an accessory flash. It didn't make a lot of sense that the less expensive M50 cameras had a built-in EVF, while the more expensive M6 models didn't!
I'm mildly surprised to see both mechanical and electronic shutter frame rates quoted for these cameras. I thought it possible that Canon would go with electronic shutter only in these and other future cameras (much as Nikon has done with their top-of-the-line Z9). It may be a logical cost-saving move.
If the R10 replaces the M6II, I think it likely Canon will continue to offer the M50 Mark II for the time being... at least until they have a replacement for it. The M50II and M50 before it have simply been way too successful for Canon to discontinue without being able to offer a comparable R-series. As a vlogger-oriented camera, this might be the model where they forego a built-in viewfinder. An EVF is less needed for video work and this is supposed to be a more affordable camera (current M50II sells for $600, while the M6II has been selling for $850, body only in both cases). If not launched alongside the R7 and R10, I would wager an "R50" is in the works and will come in due course. It just makes sense for Canon to consolidate everything into the R-series and RF-mount, eliminating both the EF/EF-S and EF-M cameras and lenses.
An R10 (and an "R50", if/when there is one), needs to have IBIS. That's not listed as one of the R10 specs.
RF 18-45mm and RF 18-150mm lenses make a lot of sense too. I doubt they will be labelled "RF-S" though... Canon has stated there will be none of those. What I think they meant though, is that there will be no "crop only" lenses with a modified mount designed to prevent them from being used on full frame cameras, the way there were with EF-S lenses (versus full frame capable EF lenses). There simply is no longer need for that.
Back in 2004 when Canon intro'd EF-S lenses they were the only company offering both APS-C and full frame cameras. So they opted to design their crop-only lenses that way out of concern that people wouldn't understand the difference. Today's marketplace is much smarter about this, since virtually all manufacturers now make both APS-C and full frame, and none of them have found it necessary to restrict their crop lenses in this manner. For that matter, third party lens makers have had little trouble using the same EF mount on both full frame and crop only lenses they've made to fit Canon DSLRs.
Also, one of the reasons for the EF-S mount was that some lenses would protrude inside the camera, which would interfere with and potentially damage the mirror mechanism of a full frame camera. Of course, with mirrorless full frame R-series cameras, this is no longer a concern either.
Regardless whether they are actually labelled "RF-S" or not, you can bet that they will use the same RF mount as the full frame capable RF lenses for the R3, R5, R6, etc. The FF R-series cameras also now have a "crop mode", so can work with adapted EF-S lenses.
Finally, I'm a little disappointed to not see an ultrawide "RF-S" zoom being announced. There has been a 10-24mm on the Canon lens roadmap for some time now, that I thought might fit that role. Besides a "kit lens" like the 18-45mm (compact) and 18-150mm (more premium), an ultrawide is the only other type of lens necessary right away. Everything else can be accomplished with the full frame RF lenses. Yes, there is a compact, affordable RF 16mm lens... But that's not much wider than 18mm. There are also RF 15-35mm f/2.8L and RF 14-35mm f/4L full frame lenses... But those cost $2400 and $1700 respectively. Nice lenses, but at those prices they may not be very attractive to the broad swath of APS-C camera purchasers. Among the EF-S lenses for Canon's APS-C DSLRs, there are currently a 10-22mm ($650) and a slower but very affordable 10-18mm ($300).
