A surprising omission from the new camera IMHO.
I think it was said in the past that one reason for not having it in the EM-1 was to conserve battery life.
So now we have a big new battery (making my current collection obsolete, cheers Oly) but no benefit for the stills shooter (and frankly, the old battery had more than enough power).
Perhaps GPS is seem as a bit of a gimmick, but I've just spent some quality time with my image catalogue trying to get up to date with some captions and keywording. So I did a little calculation.
Based on my average annual shoot as a semi-pro, I have about 30k "keepers" per year (by no means a lot by many other's standards). If I estimate it takes 5 seconds per frame to manually add location data to an image, then over a 3 year camera life time, that amounts to about 120hrs. Given UK figures for an average working week, and at the current minimum wage, that means the GPS feature alone would pretty much cover the cost of the camera!
Of course 5 seconds a frame is a bit arbitrary. Some days I may have 1000 frames all from the same location, other days (say from a long hike) I may have frames from numerous locations which need to to tediously looked up. But regardless of how much, GPS is a time saver, and time=money.