I think it is just going to push a gulf between the pro and amateur lenses.
I am an amateur. I purchased an EOS 400D because at the time, it was a very good (as far as I could tell from the reviews), SLR camera, which breached the gap between point and shoot, and the professional bodies, such as the 1D.
This camera supports the EF-S mount. A mount specifically designed for Canon's crop cameras to bring the end of the lens closer to the sensor, making it easier for the crop sensors to get a decent picture. The lenses I suspect are easier to manufacture, you don't have to worry about having a full, non-distorted image over a wide space, as you know you are closer to a smaller sensor. (whereas panasonics argument will be you don't need to worry about having a full, non-distorted image over a wide space, 'cause we will stretch it back into shape).
Sounds in a way a similar argument/design decision as is being suggested here. i.e. a specific lens mount for easier to manufacture lenses (although the marketing department would have you think that this is done for the consumer's benefit).
However, three years down the line, I am wondering whether to buy a couple more lenses, or upgrade the body. Currently I have what I think is a good spread of focal lengths (18-55, 28-135, 70-300) which do what I require, but perhaps I could get a faster lens (f/3.5 is about as good as it gets).
Why do I bring this up? It has become apparent to me, that investing in the EF-S range could be a dead-end for me. If I consider the 5D, then the EF-S is useless. However, is it worth me getting a better or L lens for a 400D, just so later I can upgrade without hassle (and pay a premium for having a crisp image shone onto the back of the camera)?
I think the same is going to come of these amateur end lenses from panasonic, it is only going to cause confusion when the decision comes to upgrade. If you have a good body, then why waste it on a lens which is known to require changes to the image it produces.
If you have just bought a good SLR, but want something better, then are you going to need to replace all of these lenses? Probably, because in going to full frame from the cropped sensors these lenses will probably support, is going to mean that the images are fish-eyes.
(and finally, in a toungue in cheek fashion). Are we going to have to talk about mega-pixels to sensor characteristics now as functions of an ovoid, to combat the stretching that these lenses will require? Just think of all those pixels in the corners that are always going to be dark