They are certainly doing their best to show it as a system, not just a new body and a couple of lenses. The M adapter makes gives it access to a complete line of excellent lenses, and the assorted bits and pieces like multiple colours, cases, holsters, bags, a flash and a viewfinder round it out.
Not sure if I would buy one, though! If I was in the market for an aps-c body that will take M lenses and also have its own lens system, I might be tempted by the new Sony A6000. The A7 seems like a bit of a bust for RF lenses, particularly wider ones, so aps-c might still be the way to go for now.
And this is one problem that the T will face with photography enthusiasts. It will come into competition with the Sony A series which is quite mature, has an inbuilt EVF, more bells and whistles, and an existing lens system (albeit not much bigger). The T seems more for the fashion conscious crowd that wants a 'Leica', but attempts to cater to the RF lens crowd, too.
It might be a great camera. Certainly, it will be well built and feel like an absolute gem due to the unibody construction. The touchscreen interface and dual controls could work really well, or be a bust for those who want dedicated dials and buttons. We shall see!