The concept, albeit interesting, is not new, it has been tried by Minolta in the late 1990's. The problem I see with it is that it treis to be too many things at the same time, with the inherent compromises. Lets see:
1. If you want a zoom, you have to compromise on the sensor size. You will end up with the image quality of a G11 or LX3 or GX200, at almost twice the price?
2. If you want to use a larger sensor, it is even more expensive, and it is bigger than a GF1 or EP1/2 plus pancake prime lens. At least with the latter you can use a zoom lens and keep the large sensor.