It's gotta be in response to the Sony FS7. Canon got spoiled when the C300 Mk I became the "it" camera in the broadcast community, and they didn't offer enough improvement in the Mk II. People I know kept shooting with the Mk I (as did I) or switched to the FS7 (which I am about to do, reluctantly).
I prefer the Canon's picture, right out of the box, but I'm told that the FS7 can be tweaked with a little work. Fingers crossed.
I love the autofocus options in the Mk II, but clients are already asking for faster non-cropped slow motion than the Mk II can do, and they will soon ask for slow motion in 4K, which the Mk II does not do at all. FS7: 180 fps in HD, 240 fps in 2K, 60 fps in 4K.
Rather than drop the price, I would have preferred Canon add features.