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A rewrite allows the programmers to do what they want in the order they want. Just because there's a new event feature doesn't mean internally apple could have written code to accommodate this in the background. Even if it meant prompting users to assign it to an event or other new features. While perhaps clunky to have an import need assistance - I think people would be ok with it for a dot zero release. I work in IT. Our company does a ton of intergration projects and also creates adapters to bridge software that doesn't speak well with others. It's nothing new. I'm sure apple will make this possible. But to launch without it was a fatal flaw
A clunky and incomplete import can be worse and more time consuming than recreating the whole project again.
This is not a text edit app where all the information you need to carry over is font, size, heading and style. There are a gazillion things you can do with an edit and unless all of those things make sense in the new app one way or another, the import will look alien when you do it.
A rewrite allows programmers to do what they want with the new app only. If you force people that the new app must be 100% compatible with the documents of the old app, that's already a big breach of that freedom.
Again, I think that not being able to open FCP 7 files is less of a priority for most people here. There are much bigger missing features in FCP X. Anyone can keep a copy of FCP 7 for reworking old projects in the future, but not being able to start a new project on FCP X and finish it on FCP X is the bigger problem here.