You wouldn't classify the R as the R-series replacement of the 5D?
I think it depends on what you shoot.
For a landscape shooter, it's probably mostly there, but as an alternative to the 5D4, not a "refresh." When I think about a refresh, I don't think sensor changes that merely optimize for a different flange difference as a sensor improvement, for example. That's a lateral change. Canon executives have also indicated same sentiments a few weeks after launch.
For an action shooter (me), it is very much not a refresh or even a lateral move. 3 fps in servo focus is dismal. I recognize that this isn't a big deal for a great number of people.
I just put a pre-order in for the RP as a tiny backup camera. I prefer it over the R because it has 4 fps (relatively blazing!) in servo. This is really an excuse for me to buy a couple of the RF lenses I've been eyeing, while waiting for the real 5 series or equivalent to come out.
I don't think this'll happen anytime soon, as all evidence points to processing power being a severe limitation (the reason the RP has 1/3 more fps than the R is likely due to smaller megapixels allowing a fixed amount of processing power to do a little more). My expectation is that Canon is beavering away at a fairly radical processor upgrade - perhaps even outsourcing the hardware - so as to allow their bodies to provide some of the minimal functionality we today take for granted on our mirrorslappers, like 7 fps+. I don't think they get this with an incremental Digic upgrade, although perhaps they could squeeze it out by putting in three chips or more and providing a massive battery - not the most elegant solution. I suspect they are going to wind up taking this opportunity to set themselves up on a new platform - whether produced in house or not - and this will involve massive amounts of code replacement. Canon is good at planning those things long-term, but it's not good at having those long-term plans realized on the schedule they would like. I think this may have much to do with gobs of awesome pro lenses showing up without a camera quite up to commensurate expectations. But they'll get there.
In the meantime, I might dally with some other systems to amuse myself, perhaps the upcoming Sigma L mount offering, or the new Panasonic L mount. I see it as an opportunity to learn about the alternatives, but will very likely come back to Canon exclusively when they get this right.