Are you really going to try to strawman your way here with that? won't work. I don't think they are inept. It think they are suffering from hubris. Sleep at the wheel is just a cliché, an internet phrase. It doesn't mean they are inept, just that they are late
so please don't strawman into:
I'm not creating a straw man at all. If you are unable to use the English language properly then don't be surprised if people misinterpret what you say.
If you are saying they took a valid (at the time) decision that later proved to be incorrect that is a different matter
So let's talk about your points: M. Successful yes, in some markets like japan, but what happens now and what happens world wide?. IF a new mount comes in and you bought into the M system, are you screwed? Is there an adapter (so you have to buy two adapters, one for EF and one for ER? can you even do that?). So if in fact there is a new mount, I don't see all this calmed and calculated decision you're talking about with M. In fact, all the opposite, are they going to produce lenses for 3 mounts now? This grand vision doesn't seem so grand.
If you bought into the M system, you are not screwed. The M system is APS-C - if people needed FF they would have bought 5D/6D/1D. The M system can use the EF lenses so why are they screwed?
Also if M was such a hit, why wouldn't have it been at FF?
At the time, Sony did not have FF either - and for 3 years after introducing FF Sony's initial v1 and v2 cameras were pretty much along the lines of 'nice sensor but otherwise horrendous'.
And why should it have been FF? This comes back to your apparent obsession with the only mirrorless that matters is FF.
how can you say canon wouldn't be THE sony right now with all the press, and the fans, and THE benchmark by which all are measured and with 20 some native lenses. Would this not be in fact better? and if in fact this is better, then why didn't they do it? why were they late? Sony didn't get there with perfection. They got there by being first, not late.
You keep using this word 'late'. Just because they were not first does not mean they were 'late'.
Look at what Sony did - released half assed camera with recognised bugs, then fixed it by releasing another camera a year later fixing the bugs that should not have been there in the first place. It rankled Sony users and that is not how Canon does works.
Also you make the simplistic assumption that because one company has a product another company must be able to respond immediately with a similar (or better) product. It sounds like you have never been involved in product development with all the decision chains and barriers that come up.
I think you are betting on some sort of golden unicorn or something they had in a lab and it is finally ready.
Nope. I am expecting a solid but unexciting product released just to give Canon users an excuse not to move to Sony. I think the second iteration will be much closer to Sony's third generation
Has the timing harmed them? Impossible to say either way. But undeniably it has allowed sony to raise and generate revenue, market share, market buzz, fans, audience, lens lineup (native mirrorless). And this happened because canon/Nikon failed to prevent it as they were both late.
That tedious word 'late' again.
The simple fact is that Sony had to move from DSLR to mirrorless because they could not make enough money against CaNikon. They moved to APS-C mirrorless and got smoked pretty quickly when Canon released their M system. Fact is, the big money is made not with FF but with the APS-C where millions buy them. Sure the A7/A9 create buzz but when people go into the shop and look at the APS-C 1200D and the APS-C 6300 they do not see the massive savings in size and weight. The 'buzz' is being created in websites where people are interested in gear.
I don't dispute canon has done well in EF-M. And precisely drives my "what if" they had gone FF. IMO they'd be the "sony" and just about owing that market.
I have no problem playing 'what if' - it is half the fun of rumours websites. But looking back with hindsight and at the decisions made at the time, and then accusing the company of lack of action serves zero purpose.
Look at what the Sony execs said recently in an interview - they had a gem of a sensor and decided to go back into cameras
because they had the sensor. They did not design the sensor to the camera but saw an opportunity with the product they had developed. I have said before that if it were not for the sensor, Sony would have a much lower share than they have now and if you look at the press for the first couple of generations, almost every review concentrated on the fantastic sensor with the camera functions almost an afterthought.
And also Sony has a strong mobile phone division as well and believe that from this experience they understood the rise of video, not from production direction (as Canon had) but from social media and this is why they concentrated so heavily on video.
So, no. I don't think Canon got their decisions wrong
at the time. All companies make mistakes and the good ones react effectively (not necessarily quickly) when they need to to correct it.