Since I wasn't there to hear the context in which Panasonic presented this chart, I can only speculate. But as a visual aid, the chart seems intended to make the GH4 look competitive relative to semi-pro APS-C cameras. If this was indeed the intention, then it behooves Panasonic to lowball the 7D Mk II's specs, as doing so emphasizes the "superiority" of their product.
In a sense, I agree with Andrew; a small part of me hopes Canon will surprise me, but my larger, rational part knows that the 7D Mark II is destined to underwhelm. Perhaps they'll throw in 60p or something, but Canon clearly wants to leverage those of us with lens investments to move up to the C series. Why would they give me the 10:2:2 codec and high frame rates I want when they have more expensive gear to sell?
For DSLR filmmakers, I think the GH4 could actually be a turning point. It's an impressive package, and it might be enough to pull some people from Canon, but I'll reconsider the issue after NAB.
Anyway, I think these specs are pure speculation, as I alluded above. Perhaps Panasonic has inside information, but Canon runs its own factories, so the normal supply chain chatter might not apply. But that point aside, I just can't see why Canon would make the 7D Mark II described in these specs. It would be 99% the same camera as the 70D. I mean, perhaps Andrew's right, and they'll basically release a 70D with better build, a bigger buffer, a CF slot, some other bells and whistles, and "7D Mk II" slapped on the front. That could push people toward FF bodies. But man, it's just asking for a PR beating. For every customer they convert to a 6D or 5D Mark III, there will be four or five articles that puzzle over Canon's uninspired and overdue follow-up. I'd be truly surprised if Canon didn't at least put in a new autofocus system, or increase the frame rate to 10. Matching these specs would be too little after too long a wait, from both a stills and video perspective.
It's like Microsoft removing the Start menu and Start button in Windows 8. If you're too transparent about trying to herd your customers, sometimes there's a fallout-- like the fact that almost-dead Windows XP somehow gained more market share in January than Windows 8/8.1 did. Canon is a pretty diverse company, and it can afford to piss off certain customer segments. But a 7D II that matches these lowly steps would be too much.
