I read the news with disappointment. I hate when they use titles like "Nikon rethinks the N1". It usually means good things will not happen.
The deep price slashes was a clue that something wasn't right.
For me I love the system. Smaller form factor when you consider the lens, better IQ than 1/2.3, 1/1.7 and 2/3" cameras, but of course it can't match the larger sensor cams. I thought the 10mp resolution was just fine for my needs. It is the first camera I bought that I didn't want rid of after a few months. I have no intentions of switching systems now.
Just a big downer for us N1 users.
Well, there goes my 18.5/0.7 dream lens, for which Nikon has a patent for. Aside from that, I don't really care. I will be adding the lenses I need and calmly waiting what happens. Most of the focal lengths I use, are already out for the N1 system. In the meantime I will be taking photos, just like I always have.
To be frank, if Nikon were to file for bankruptcy tomorrow I would be perfectly fine with that. As long as there are cameras in the world, even old analogue ones, my hobby is not in danger.