This is just Canon's version of the Nikon 24-50 F4-6.3, that was released with the Z5, and similar to the Sony 28-60 F4-5.6, that was released with the A7C. Those lenses are $400 and $500 respectively, which seems pretty steep for short range slow zooms. They are both tiny, though. Presumably this will be too, which will be its main (only?) selling point. Although this is pretty slow, it's equivalent to a 15-32 F2.8-4 crop lens. Plenty of M users would have preferred such a lens to the 15-45 F3.5-6.3, and, judging by the constant complaints on the DPR R forum about RF-S lenses, plenty of R users would also prefer an RF-S 15-32 F2.8-4 over the current RF-S 18-45 F4.5-6.3.