Nice article!
I also miss the cameras, or better the philosophy of high-end and comact of the EOS-M system.
I really liked the compact nature of the EOS-M system. I bought the M50 II (two actually) after I transitioned from the 5D III to the R5 and bought a R as a second camera. The M50 II had clean HDMI output so, like
@mb66energy I could use it in multi-camera ISO recordings during COVID times. However, the compact nature of the camera was the main value to me. I got it with the 15-45mm which was great, but the EF-M 22mm F2 was by far the most used lens for me. I really loved that lens! I considered an M6 II, but the lack of EVF just was a deal breaker for me. The add-on EVF just looked wrong and I never tried it. I've since sold all my EF-M lenses/bodies.
I use the R50 in the same manner as I used the M50 II. I actually have two R50's. The R50 has significant advantages over the M50 II, the Digic X and advanced AF is great, but also it supports the UVC/UAC standards, so can be used as a webcam with no HDMI capture card/cables and no special Canon software. I used the RF-S 18-150 with the R50 quite a bit, until the Sigma RF-S lenses came out.
I now use the Sigma 18-50mm f/2.8 most of the time with the R50. It is an excelent combo! I also have the 10-18mm f/2.8 and the 16mm f/1.4, 23mm f/1.4, 30mm f/1.4 and 56mm f/1.4 . I use these as a compact kit for many situations. I really like the 18-50 and 10-18 zooms because they are compact and f/2.8. The 56mm f/1.4 prime is nice because it is compact and has the two stops advantage over the 18-50 for portraits. The 30 and 23 are larger. The 23 is large enough, larger than both zooms, that I don't really like bringing it with me. The 16mm f/1.4 is huge in comparison and mostly a webcam/video use lens for me. I'm not really into video, this is just talking heads type use.
What I really, really, really want is an RF-S 22mm F2. [Canon, please, please, please]. R50 + RF-S 22mm F2 =

.
Perhaps even more than an RF-S 22mm F2 lens, I'd like to see an R50L. Not an R50 II, second version of an entry level camera, but a "Luxury" camera in the R50 form-factor. It would probably mean Canon needs a revamped lens line-up to go with it, if the strategy is to sell lenses.
My personal wish list:
- Improved sensor, improved low-light performance, fast enough readout to avoid the need for mechanical shutter of any kind.
- 24MP, or even 20MP if it makes a high IQ sensor more feasible.
- Burst rate can be kept at the current 15fps. But I want a bigger buffer.
- Pre-capture.
- ES shutter only
- IBIS
- Another exposure wheel (preferably two, though this would require some creativity...)
- A bit better EVF, though without adding bulk.
- Video features can remain the same as the current R50 or improved in some way.
- Customization ability more on par with higher end models
It could cost the same as an R7 and that would be fine. I'm sure I'm missing other features I'd like, but you get the idea.