New EOS-M, a mistake!

Well, for a first product, I think it makes good sense to do it the way they did.

Canon looked at the mirrorless camera segment and targeted things like the ep-m, gf-5 and to a lesser extent the Nikon 1.

They don't want to make a competitor to the em-5 or Sony Nex-7 because it would overlap with the Rebel series. So they just want a compact camera for the non-enthusiast with great image quality. For serious photography they want you to look to DSLRs for now.

Probably everyone posting on these forums would rather have a proper viewfinder. When the they start to produce a product line full of mirrorless cameras, that's when we'll probably see a viewfinder and better phase detect autofocus from them.