@bjrichus, I am very much agree with you in many things you said i.e long DOF, expensive, crap this and that etc. I can understand your feeling about your investment in nikon system too, however, i think you are a bit too attached to your gear maybe? The industry is transforming, if you look at other brands they all are pretty much the same. Sony? I am not sure if they have sold many FF camera.
Seriously, from what have been leaked and what have been said by nikon or announced, clearly their One system is not to compete directly with their DSLR or other mirrorless system. The market is huge, i guess instead of fighting against sony and m4/3 system directly nikon realised there is other untouched market at lower end that is those who just wanting a decent camera that compact, easy to use as pressing a button without the need to care about exposure, composition etc yet producing good image (i don't think good image equal to bokeh here?). I am not sure how things like at where you all live, but here in sydney, australia I can clearly see most people are carrying a camera on their hand. Tourist, mum and dad that just want a picture of their family outing, young people on the street, park...err, more like covering every age of population. I do know many people who do go out with friends, dress up fashionly, have fun, do take pictures and share them on facebook who do not want to carry a bulky DSLR. Instead will prefer cute looking little camera that can match the colour of their dress. I think it is a smart business decision to enter this market.
I am not saying the nikon 1 is amazing. I think it is too expensive to be an attractive product at its current price. So far the lenses are still too big (maybe due to physical limit?), however, if they are able to introduce more lenses the size of the 10 f2.8 in timely manner and priced right I am really tempted to get one for myself. Seeing the bodies of Sony/Oly offering at almost the same size as the nikon 1, i believe it is so easy for nikon to put an aps-c sensor to their offering if they need to.
I guess we all need to open our mind. For those who lusting for the FF replacement should see this launch as a hint to what to come on the upcoming D4/D800/D400(FPS,even more amazing AF, video option, etc). The london olympic is coming, there is no way they won't release new pro camera before this big sporting event, unless if they really screwed by whatever problems they may have.
