I love the M50 and think very highly of it. At its European introduction price (I thought that it was a little more expensive than it should have been in the US), I think that it's Canon's best body release in years, comprehensively outclassing the competition. Nothing can touch its combination of features and ease of use at this price point. Thinking of it it seems that Canon is one of the few remaining players making a big effort in the entry-level, feeder cameras market.
The R could be Canon's feeder camera for FF mirrorless, but I think that there are a few issues. First, it's not going to feed that many higher grade cameras if Canon continues to have a few difficulties with their sensors' readout speed. Let's hope they'll get that sorted out but the 6DII was a blow to my confidence in them and that release is not going to help. And the lenses they're releasing at launch are completely dichotomous with the idea of an entry level FF camera, other than the 35mm f1.8. It's as if these L lenses are waiting for a body that Canon couldn't get out in time.