"This system is a marketing tool to enforce customer brand fidelity, not made with the photog in mind at-all. This system is a self-defense system for Canon. The new enhanced lens communication that facilitate the extra control ring on the lens is actually made to make you as a user more dependent on the canon line. Once you start getting used with this control system you will find harder to use other systems and psychologically a conditioning will occur to become a canon conservative. Next is the lack of IBIS and as i noticed no mention of focus peaking. Without these features you won't be able to easily use any full manual lenses either vintage or lenses like Samyang, Laowa, or Mayer Optics and Zeiss on the more expensive side. Even if you can use them your life will continue to be harder... so you will tend to keep using Canon lenses. With this approach, Canon probably also want to secure that they can justify the extra money they charge for the lenses, the extra control ring is an exclusive feature, also they can still justify and sell the IS in each lens since no IBIS. As a side-note is interesting to see if Canon will allow 3rd party lens manufacturers like SIgma or Tamron to implement the new control ring, also is questionable if that will be even profitable for Sigma and Tamron, since those lenses would be Canon only... I think in the long run this road is a bad one for Canon, since for creators on a lower budget like myself, or young creators who want to step up their game, Sony offers a solid system, where they can start with cheap good full manual lenses, possibility to adapt almost anything efficiently, offering also a growing collection of high-end lenses. I am really disappointed by Canon. I was really open to change my plans from buying a Sony. My first conclusion would be: stay away from Canon if you value gear versatility. Even if i own 6 Canon lenses and i plan also adding one of the more advanced film EOS camera to my kit, I think in respect of full frame mirrorless a Sony camera would fit much better as a versatile workhorse, allowing me to easily use and experiment with a huge range of lenses out there in the wild, many at much lower prices, yet delivering very good image quality."
(Actually i wouldn't be surprised if Sony execs now are rolling on the floor laughing)