IronFilm

I think this a pretty significant release.
The lack of IBIS wouldn’t bother me for a few reasons.
Namely, that I can do without the destructive warping, a lot of Fuji lenses have OIS and the options for post stabilisation are now both more plentiful and more sophisticated.
$799 reminds us of how things used to be in the golden days of MFT before we all slept walked into accepting the received wisdom that three times that price was the price of a low-mid price camera body.
 
 

The price is fantastic, and the autofocus looks very capable too.
There's very little action under $1k with new releases so good on Fuji for keeping some excitement going.
Latest image processor is a plus too.
I would like to see what Small rig have in store, grip wise. A nice wooden grip please.

Fuji is going to sell so many of these (if they can make them). It isn't even funny. 6k open gate S35 sensor, Mic and headphone jack, PDAF, fuji sims, 4k 60fps...
If Panasonic ever had a plan to release a G9ii in a S9 body, now is the time.

Really interesting! Is it possible to put a moment anamorphic on that 28mm pancake?

So, no IBIS, but 350g-ish. That's still impressive.
Where's your response Panasonic because this is way better than the G100? And it's actual camera with a hot shoe and mechanical shutter (to be confirmed), unlike the S9.
The video specs are amazing for a $800 camera. ...just no IBIS (only electronic).

Nikon needs a camera that sits in the middle between stills hybrid cameras and cinema cameras. 
Whatever is the equivalent of Nikon's FX30/FX3/C70/R5C could be easily released under either the Nikon or the RED brand name. (or be released under both at once?)

100%
It can't be understated what a powerful factor having a massive user base is when it comes to choosing a camera. 
I'll happily take a 15% worse camera if it has 5x more users. 
Is why a Sony FX30 will probably be my next camera (if I even get another camera next year). 
As everyone and their dog has a Sony camera. You have to seriously beat Sony on price and/or features to make a person consider anything else. (although Canon gets an honorable mention when it comes to popularity, and Blackmagic does ok in their little indie niche) 
It's also why back when I first started with photography I went for a Nikon D50. Just didn't make sense to consider Pentax / Sony / Olympus / etc, as you can't just be better/cheap than Nikon/Canon. You need to be a lot better/cheaper. 
At the very least, Panasonic needs to be price competitive against the likes of the a7mk2 (which is still being sold brand new!) / Sony a7C / Canon EOS RP
It's too much to think Panasonic will ever undercut them in price, but at least be within a couple of hundred dollars of them!
 
Yup, it's not just camera bodies that need to be price competitive to grow the number of new photographers/videographers into the ecosystem, but the lenses too. 
Look at their prices for L Mount:
https://www.bhphotovideo.com/c/products/Mirrorless-Camera-Lenses/ci/17912/N/4196380428?sort=PRICE_LOW_TO_HIGH&filters=fct_a_focus-type_5738%3Aautofocus%2Cfct_lens-format-coverage_3332%3Afull-frame-lenses%2Cfct_lens-mount_3442%3Aleica-l-mount%2Cfct_lenses-kits_7315%3Alenses-only 
Cheapest is a $350 prime. Next cheapest from Panasonic is their new compact kit zoom at $500!
Compare that with Canon, who have four lenses which are cheaper than Panasonic's cheapest. 
Nikon has also four (well arguably "two") lenses cheaper than Panasonic's cheapest. And a zoom cheaper than Panasonic's cheapest zoom. 
(none of this is counting the various third party lenses either, of which there are for more for them than there are for L Mount)
Ideally I'd like Panasonic to do something such as a 50mm f2 lens for $160-ish, and a 28mm f2.8 pancake lens for sub $300
And a medium range zoom (24-90mm ish that is f4 ish) that's cheaper than any of their current zooms. 
That will fill in some big gaps in the entry level starting out lens kit, to make Panasonic competitive again. 

Nice.
Does 12bit raw though over HDMI!
I had been thinking if I buy a new camera next year (highly unlikely, but always possible) it would probably be a cheap Sony FX30. 
But perhaps this Fujifilm X-M5 is worth a look? Especially as it would be priced substantially cheaper than a FX30. 
Heck, for only a hundred bucks more you even get a handy 15mm to 45mm zoom lens:
https://www.bhphotovideo.com/c/product/1855426-REG/fujifilm_16900771_x_m5_mirrorless_camera_with.html 
I guess the lack of IBIS and TC would be the biggest two negatives for me. And perhaps the overheating. But....
https://petapixel.com/2024/10/14/fujifilm-x-m5-first-impressions-a-surprisingly-powerful-little-hybrid/
"If you need to record for long periods of time, you can shoot a long-play mode which still has the 1.18x crop but should dramatically extend record limits and avoid overheating. There are two screw mount brackets to allow the attaching of the Fujifilm cooling-fan unit if overheating needs to be more acutely avoided with the intensive record modes."
Handy!
 
I feel Panasonic has abandoned a little the MFT market underneath their flagship GH7/G9mk2
Where is the cheaper "Panasonic G90"? (a G7mk2?)
 

I agree with you that they can't beat Sony (or Canon) at their own game, but they do need to entice more users into the system and a big part of that is being aggressive with pricing and offering more entry level cameras and lenses. These aren't going to be cameras or lenses that appeal to us, but ones that appeal to those who would just be getting their foot into the door.
 
Lumix can't just rely on us, they need a bigger market share in general. Hoping that a niche product gains mass appeal is a risky business proposition, too.
Yeah, I don't see a scenario where they give up on higher end full frame cameras because I'm not sure they could survive as a company that just releases mid-range cameras. I think they are in a tough situation where they are damned if they do, damned if they don't. Would it be better to release an underwhelming S1H successor the way they did with the GH6? I learn towards "no."
 
I think sensor tech has slowed down in general. It felt like every single day specs for new sensors would get posted, with people speculating on whether it would be used in a forthcoming camera from this brand or that brand. I know people who think Sony's sensor tech was impacted significantly from the earthquakes that have hit the country over the last 8 or so years and the supply chain issues that happened during COVID. That would kinda make sense about why almost everyone is still using a 6 year old sensor.

Fujifilm have had Panasonic’s pants off with the X-5M release today.
It’s offering the upgrade from the compact MFT cameras that Panasonic refuse to do and cuts the price in half from the still sat on the launchpad S9 and has appropriately sized lenses to boot.
It also leverages the kudos that the X100 has created in the market that they are trying to break into.
Panasonic should’ve made this camera two or even three years ago - particularly when Leica vacated the APS-C area discontinuing the CL and TL - but instead they put an MFT sensor in a FF body and priced it even higher.
They definitely need to do something along those sort of lines as the “me too” stuff is not moving anyone’s needle.
The head start they had by being in mirrorless early has now disappeared.

Honestly I'd consider dropping the S5 to near fire sale pricing as the entry level option into the L-mount/Lumix full frame family. I'd argue that it's still a great value at its current price, but there is just so much competition in that price range. The RP, R8, Z5, and A7C are all cheaper, and some of those even come with a kit lens for less. I'd definitely argue that the S5 is a superior camera to all of those, but Lumix is at an inherent disadvantage because Canon, Nikon and Sony have a much larger user base. So create a real incentive to try and entice people to dip their toe in.
 
For all of their flaws, and there are a lot of them, Canon has always been smart when it comes to getting casual users to buy their cameras. The RP with a 24-105mm f/4-7.1 lens is $1,118. Is it a crappy lens? Absolutely, but for most people the first lens they use is the kit lens. I'd argue that Lumix's kit lenses are genuinely good lenses and are nicer than Canon and Sony, but they don't have anything comparable to the super cheap options from them.

Nothing wrong with this approach, it's what Sony has been doing very successfully for a number of years. 
Can't afford the latest a7Rmk3? That's fine, maybe we can tempt you with the latest and cheaper a7mk3? Oh, that's still not cheap enough for you? Well look, we have an older a7mk2 still available for sale! What, not even that is cheap enough for you? No problem, we've got you, here is an OG a7mk1!
And Sony is still doing this strategy even today. 
Look at B&H, where both an a7mk2 and an a7mk3 and an a7mk4 is available for sale!
I see nothing at all wrong with Panasonic keeping around the Panasonic S5mk1 at a cheaper price. (currently US$1.4K https://www.bhphotovideo.com/c/product/1581612-REG/panasonic_lumix_dc_s5_mirrorless_digital.html)
Even better if they keep on bringing it down in price, brand new $1.2K S5mk1 by Christmas? Sub $1K S5mk1 in 2025? 

Nothing wrong with this approach, it's what Sony has been doing very successfully for a number of years. 
Can't afford the latest a7Rmk3? That's fine, maybe we can tempt you with the latest and cheaper a7mk3? Oh, that's still not cheap enough for you? Well look, we have an older a7mk2 still available for sale! What, not even that is cheap enough for you? No problem, we've got you, here is an OG a7mk1!
And Sony is still doing this strategy even today. 
Look at B&H, where both an a7mk2 and an a7mk3 and an a7mk4 is available for sale!
I see nothing at all wrong with Panasonic keeping around the Panasonic S5mk1 at a cheaper price. (currently US$1.4K https://www.bhphotovideo.com/c/product/1581612-REG/panasonic_lumix_dc_s5_mirrorless_digital.html)
Even better if they keep on bringing it down in price, brand new $1.2K S5mk1 by Christmas? Sub $1K S5mk1 in 2025? 

I would actually be happy and buy an S5ii with nothing more than an updated soft release shutter mech as in terms of feel and sound.
I’d prefer to also have a higher res screen as a bonus, but they could stop there and call it a S5ii.001 and I’d be a happy boy.
Stick a larger sensor in without sacrificing low light capability or DR, happier still.
Beyond that, zero actual needs.

I disagree. It's a much more honest approach, in my opinion, as you can reliably predict how long you can film with it. I am vehemently opposed to companies releasing cameras they know have overheating problems but still claim unlimited record times. Transparency and honesty should be encouraged. 
If I get the S9 I'll keep the recording limits on, both because I prefer predictability and because it makes me uncomfortable that by turning the recording limits off you agree that Lumix isn't responsible if you damage the camera's sensor. It's great, I guess, that Lumix begrudgingly gave users that option, but I personally don't care to risk it. I have three other cameras I can use in the event I need to film with no limits. 

I'm no expert, but I can clearly see some avenues where Lumix has chosen to put their energy:
PDAF (The AF has seen crazy amounts of innovation in only 20 months) Processing (Computational features like Live Composite mode and Hybrid Zoom) Tools (In many cases, these are another level above the competition, especially for anamorphic) Their approach seems like one for the long term, with above-the-neck implementations that others don’t have. Now, they need to give us a body that includes a slightly more modern sensor—not even the latest and greatest (though that would be welcome). Again, they’re releasing firmware that includes NEW features for old cameras. That should be celebrated. Give us consistency and reliability, not just the checkboxes that say '4K 120fps 10bit 4:2:2 with AF and no crop.' For my usage, as long as the focus is on 24fps and image quality with tons of tools, that’s money better spent.

I agree 100% that it is getting harder and harder to make a living in this industry. What makes it even harder and what hasn't yet been mentioned is that the price of everything is also going up, so not only do you have more and more clients who want things for free or lower cost, your own cost of living is increasing exponentially. 
I still will never forget a really badly exposed cell phone mirror photo of Kim Kardashian got over 100M views and true masterpieces from some of the top photographers in the world would be lucky to get 1,000 views. These days true talent and art are not appreciated at all, what matters to the current generation is who is in the picture or video and what they are doing, not the level of skill or years of knowledge needed to create it.
I personally have been affected by the current trends as well, I had to give up some of my service offerings because the level of effort vs what the clients were willing to pay meant I would be making less than minimum wage after expenses and my time were accounted for. Residential Real Estate Photography/Video, Weddings, and a few others I have dropped completely unless something really high end comes my way.
I will say though that for the niche I specialize in (events, promo videos/photography, etc.) social media has also opened new doors for me. I do freelance photography/video work for some of the big ad agencies in my area and even at that level their clients are obsessed with social media. They literally host events with social media in mind, and where I come in is they hire me to film them. I filmed more private VIP social media inspired events this year than ever before and to these clients money is no obstacle as long as it produces something that will generate useable social media content.
More big names than ever before are trying to reach new clients on social media and they hire people like me to create their content. They also scour social media to see what their competition is doing and send me their work and ask if I can create something like that for them; it is so odd using 8K capable cameras and thousands of dollars worth of gear to create 30-60s worth of content that will be viewed at 480P in the worst aspect ratio and orientation possible that its almost laughable.
I literally had to rethink the way that I shoot and completely focus on anything that will grab the audience's attention for 2 seconds vs trying to be artistic or create content that truly took planning and was challenging to create because that's what my clients want because that's what their audience wants.
Anyone who hasn't seen the movie Idiocracy should check it out, it feels like that future is already here in many ways.

The other day I randomly observed an interaction between an instagram influencer and her follower in comments  section of one of her reels where she was bragging about an old compact Sony handycam she found on ebay and loved the image "vibe", which means the worst quality you expect from some P&S cameras. The follower said I love that camera makers increase resolution in every generation and we sill looking for crappy film look! (Btw, that wasn't film look at all, it was 30fps washed out ccd soap opera video). And the influencer replied resolution is for commercials! 
This should be a wake up call for everybody in this industry (not just Japanese, but even DJI and Apple): these people don't care anymore! All they need/want is vertical 30fps 2MP image! Then I asked myself am I even prepared to market my art/content to these consumers? We're in such a "fad economy" that "better" becomes obsolete, and "worse" sells better! Those who know what will be the next worse thing, make tons of money; and people like us have to check how much we earned today through "buy me a coffee" link lol.

Some of these rumors are written by a child I assume

Rumor from Weibo
LUMIX S5R
quad-Bayer 61M BSI
8K FF 16:9 30fps 25ms super-sampled
5K S35 4:3 48fps 20ms super-sampled
5K S35 16:9 60fps 15ms super-sampled
4K S35 16:9 60fps 15ms super-sampled
5K FF OG 3:2 60fps 10ms dot-to-dot
5K FF 16:9 60fps 9ms dot-to-dot
4K FF 16:9 96fps 9ms super-sampled
4K FF 1.25x crop 120fps 7ms dot-to-dot
dynamic range: FF 16EVs (FF4K)
-------
 
If true its slow ass 8k camera. But better than A7r5.

My GFX 100 II already records 8K.  It's with a heavy crop and with unimpressive RS, but it's 8K at least.

The record limit in the first place was really dumb

I was hoping they would come to their senses and do this for the first update. Still not for everyone of course. But at the used price of $1,000 it still a deal for what it can do and will be a nice little 3rd cam for me in the kit. Full frame pocket anamorphic with LUMIX stabilizing is really cool. Now I just need to get my little Yashica 1.5x dialed in and can have some fun. 

To be honest looking at GH6 used prices now you could probably stretch to one of those for not much more?!

You had a lot of nice things to say about the codecs and other stuff in the Panasonic GH5 Review and exclusive first look at Version 2.0 firmware - EOSHD.com - Filmmaking Gear and Camera Review
Has anything changed ? because i'm almost sold on a gh5.