We need more, with you type of attitude
... you clearly understand and prove my point about people making things work who are "Pros"
The problem is that there are professionals who need the features that this guy can get away without using.
Although I'm sure Apple is very pleased with this release of FCP [probably not the press, though] - because honestly, it is a huge upgrade: 64-bit, very intuitive interface, extremely fast - I think it's too early to tell if they're moving away from the professional market in this area. They may simply be providing a new framework in which they will once again be the predominant application for video editing. As for them discontinuing FCS 3, while it does suck for production companies, it's simply Apple pushing its new product and pushing it hard, the way Apple always does.
But it's far too early to say that Apple is moving away from the professional market. They've clearly released a product that, while extraordinary in many ways that aren't really being acknowledged, isn't enough for the most high-end professionals. But to do so while working on OS X Lion, iOS 5, the iCloud framework, and Xcode 4 [all huge releases this year] is still impressive.
Yes, FCP X needs work. And to you professionals who now have no tools from Apple to do what you could a week ago, I'm sorry. But let's not immediately say that this is the end, "iToys" are the company's future, and they don't care about any sort of high-end professional. This is the company that created the App Stores, spawned hundreds of new software firms, and gave thousands of developers the tools they needed to create amazing things.
So while FCP may not be ready yet - with apologies yet again to those few [very few, I don't know how this forum is so full of them] who needed something better immediately, or at least not a sudden recall of the old - it will probably innovate in and expand the market in years to come. The framework is done. Just watch what happens.