The new Leica X Vario is an interesting camera. Basically a Leica X2 with a 28-70mm equivalent lens with a rather slow f3.5-6.4 maximum aperture. Not a lot for the Leica fan boys to really write how about, but honestly that's not Leica's target market.
This little (fictional and rather stereo typed) story illustrates who I believe Leica is targeting.
A well off woman walks into a Leica boutique store and starts looking around, not really sure where to start.
"Can I help you?" asks the Leica salesperson
"Yes, I was looking for a better camera than this one (pointing to a Canon point and shoot from her handbag), and my photographer friend (who she's having an affair with) says Leica makes the best camera there is. Can you show me what you have?"
"Of course, but first can you tell me what you need from your camera?"
"I don't want it to be too big, it has to have a zoom lens and it has to be the best camera I can possibly buy."
"I see. Well, our flagship M 240 only comes with prime lenses (ed: WATE and MATE be damned), our S series is very large and our X2 only has a fixed lens. Therefore I would like to recommend that you take a look at our newest camera, the Leica X Vario. It has all the quality of our flagship M , and has the best quality zoom lens of any compact camera that you can buy (quite true)."
"Wow! Its beautiful! And it will take great pictures?
"Great! I'll take it!"
That's right, this camera is for rich people who have to have the best, and/or a high end label like Leica. The traditional Leica buyers just won't get it, as it is really not meant for them.