Credit: Canon Price Watch
The EOS-M seems to be making more sense with a new mount for a much shorter back focus register distance (which I guess to be around 20mm something) than the K-01 such that the body can be made thinner and overall body size and weight can be saved, whilst the sensor could be the same. But then compatibility is not maintained anyway.
In order to compete and survive, my humble advice to Ricoh is to quickly build a K-02, which should at least be equipped with a swivel back LCD and support an optional/external EVF. In order to hide the thick flange mount distance, a Ricoh Mirai or Pentax Optio MX style body form and shape will help, which is actually ideal for video shooting, too!
They have to be different in order to compete. But then all those differences should have to be sensible, but not the other way around! Right? Just look at the Q and the K-01, what do you think? And what did the market react and what are people saying? >:-[