Shame the G5XmkII is not a better G7XmkIII. And that it has lost its previous formfactor (with a vari-angle screen, proper EVF and hotshoe) which would've made it perfect (in combination with a 3.5mm mic-in/livestreaming). Not to mention the lack of 24p and DPAF/PDAF or the 10 min restriction in 4K. Then again... it's Canon. They're always playing the segmentation game and crippling cameras forcing you into higher tier cameras when you want/need certain features. Though even then you're never 'getting it all' which is a shame. They're also just about always playing 'catching up', now finally adding 4K (I'm surprised it's cropless) and hardly ever leading the pack with innovation (like here they're re-using an older sensor from the competition).
But... it's difficult to argue that Canon cameras 'just work' and are easy to use. Especially regarding the YouTube community where one really just literally wants to 'point and shoot' and not deal with the technicalities of it all. Over a decade ago the YT community weapon of choice were the small Flip cams by Cisco (UltraHD/MinoHD), after that it pretty much became the G7X-series. Their package is just allround and easy enough to have such a massive following. Most notably for vloggers: the screen flips up so they can monitor themselves, the AF is somewhat decent, the onboard mic with adhesive windfurry attached sounds okay-ish and the stabilization works rather well compared to some of the competition. The lens itself also has a really usable range and more importantly the sensitivity at that range is really respectable with its f/1.8-2.8 (the mentioned G1XmkIII for example only has 3x zoom and falls off from f/2.8 to 5.6, kinda defeating the purpose of the somewhat bigger sensor; or the RX100 VI with its versatile 24-200mm range but f/2.8-4.5 sensitivity). In the end the G7X-series always made for a great portable allround all-in-1 camera. That's been the charm all along, just bring your G7XmkII with you... if you don't end up using it that day, fine... if an oppertunity to capture some footage does come up... you've got it with you. For those moments when you just need something more than what your cameraphone can give you. I mean... sure you can take an 80D with RØDE VideoMic Pro+ and Joby Gorillapod with you wherever you go... but it gets a bit bulky and cumbersome. Same reason a BMPCC4K with rigging, external monitor, storage, power, audio, lighting etc is way overkill for vlogging, even if they fitted a record button as such that it is easy to hit when holding it in selfie mode. Just use the appropriate equipment for the right scenarios.
Regarding resolution, 1080p rather than 4K didn't bother people too much... after all, on YouTube content is king. 1080p only also meant it you'd cut through it like butter with any editor. People generally like the Canon colorscience applied to imagery, so doesn't need much tweaking in post at all, usually looks at the organic softer side than brittle modern oversharpened cellphone footage. You'd pretty much be set introducing a slight hint of sharpness back into the footage, drop a curve on top of the footage and call it a day. This all means a dang quick post process allowing YouTubers to upload content whilst it is still fresh.
I'm glad there's an update though. I had great hopes the LX100mkII would've incorporated everything to take the reign, but it was a hardly worthy miserable update. In the same fashion the RX100 VA was just a slight twist on the original V and the VI wasn't much of a successor as it was a variation within the range offering a model with a wider zoomrange (at the cost of sensitivity). The original V stems from the same year as the G7XmkII. In Sony years that actually means it's ancient. Whatever happened to Sony launching an updated model ever half year? And where is the A7SmkIII? Anyways, Sony cams always struggled whether premium compact or APS-C iLC. Wrong focus if you ask me: combining a tiny miniature body and trying to do the craziest specs. That looks nice on paper... in practice... not so great. Overheating, poor ergonomics, lack of ports and usability and such. This is how the seemingly lacklustre G7X-series managed to keep its importance throughout the years! Again... as much as I hate Canon for crippling cameras and lack innovation, they do the basics right and their cameras once again 'just work'.
Been a while since I personally owned a Canon camera though. Last one must've been their PowerShot SX1 IS (one of the first ever cameras to do 1080p). I hacked that one with CHDK to open up some more advanced options like running scripts. From that one I transitioned into interchangeable lens camera systems with the GH2 and later a bunch of other predominantly Panasonic cameras. But I think I've got to give the G7XmkIII a shot here. Would've liked the EVF, even if pop-up (in january I wanted a camera for my South Africa trip and bought a Sony HX99 travelzoom with pop-up EVF, it's better than nothing!) and the added range (5x VS 4.2x zoom; same sensitivity) but the benefits of the G7XmkIII (3.5mm mic-in/livestreaming) and its lower price might just be the way to go. Again... bummer that we can't have everything, but it's Canon, we really shouldn't have expected anything else from them...
-- Introduction vid from Canon: