Canon to Merge Two Lenses Into an RF 24-70mm f/2L IS?

I think they would rather benefit from decreasing the weight instead of offering another 1.4 kg boat anchor with more zoom range.
The point of the article, which you seem to have missed, is the possibility that both can be done simultaneously, in a 24-70/2 VCM weighing close to the current 24-70/2.8. Yes, digital correction of the corners would be needed at the wide end, but that's the norm now (the $3K 24-105/2.8 has that 'feature' at the wide end).
 
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While a 24-70mm f/2 would be a great lens, I doubt dropping the f/2.8 24-70mm variant would be a good idea.

Many users are fine with f/2.8 zooms and are not looking for higher specifications, but would appreciate a lighter yet still pro 24-70mm f/2.8.

Sony did it (695g), Nikon did it (675g), and Canon has a 900 grams lens that is considering replacing with a heavier option?

Make a new f/2 standard zoom lens, but make a f/2.8 zoom as well. Both lenses have their targets.
 
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The current 28-70 is 1430g and doesn't have IS. Making it 24mm would add extra weight. The 24-70 is 900g. If they can make the 24-70 F2 1000g or less it's possible to replace both with one lens but that seems a bit extreme weight saving.
As you pointed out before you edited your post (and as CRguy suggested), Sony managed to make a much, much lighter 28-70/2. So I'd say it is certainly possible, especially since we know that Canon will rely on digital correction of the wide end in their design.
 
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