Has Sony sold-out those looking for better quality?

Seems that new NEX they released is a kind of a downgrade from the
NEX-5. Smaller and lacking some critical items, like a hot-shoe and
EVF. Is Sony's assumption that all people coming to the NEX are
migrating P&S's who don't want to evolve their shooting style at all
and are simply buying in to an interchangeable lens camera because
they "think" they should?
The NEX-5 apparently vastly outsold the cheaper plastic NEX-3. Now it
might have been simply because it was smaller and didn't frighten the
unwashed P&S'rs as much, but it is likely it sold well because it was
better-built and more than a few of the buyers were DSLR owners who
expected more.

http://www.dpreview.com/previews/sonynexc3/