Agreed, and I for one don't mind. As long as people are aware of the things that are missing, I really can't see what the problem is.
The problem is Final Cut 7 is severely behind the technology. It's time to move on to something, and as it turns out, Final Cut X won't work for many professionals.
I have no qualms switching over to Premiere (just talked to a friend that works there and he said their inundated with calls today from people wanting to switch over). It's just interesting because I now have to ask myself: if I don't need FCP, why do I need a Mac?
I'm sure FCP will be updated with more professional support in 1,2,3 years, but like I said, we need it now, as 7 does just doesn't "cut it" anymore.