It's All About the Lenses
I can understand Sony making the 24mm more compact by reducing its maximum aperture by half a stop. That does start to diminish the difference in image quality between the APS-C and the 4/3 sensors when shooting in low light though. For many serious shooters, this will be THE lens: ideal as a general purpose street shooting lens. So they better get it right. I think Sony knows this and will produce a good quality lens.
Unfortunately, that seems to be the only really useful lens on the road map as far as I am concerned. I still don't understand Sony's decision to produce a 24mm equivalent prime as its first and only pancake lens. Simply to have a compact lens isn't sufficient reason. A 24mm wide angle prime is a good second or third prime to have in your kit, but it's not a versatile enough of a focal length to be the first or only lens. Luckily that situation will be remedied with the introduction of the Zeiss 24/2.0
But then some of the other choices Sony has made are a bit odd as well. Like a 30mm f/3.5 macro. It's not a very useful focal length as a macro. It could serve as a "normal" prime but for that it's not nearly fast enough. And, unlike the Panasonic/Leica macro lens there is no image stabilization. The 40mm f/2 is not quite long enough as a portrait lens, although it does feature image stabilization.
For my own use, the most serious omission on the road map is an ultra wide angle. I bought my 7-14/4.0 in June 2009 and it has since been one of my most used lenses. I couldn't imagine a system without it.
That said, I think Sony is capable of eventually producing a well rounded system. It just won't happen in the immediate future.