Besides the price there are a couple of things that strike me here. To get the correct orientation you have hold the camera in the vertical position. I also noted that the viewfinder is not replaced so the framing will probably be a bit haphazard. As for the advantage of better lenses I suppose that depends on what model you've got, many of the type 100 cameras had plastic lenses. Let's hope that those who buy it are happy, though.
Before I jump on this bandwagon I will wait a bit and see what "doc" Florian Kaps has up his sleeve. And I still have a few packs of Fuji FP100C and FP3000B in the fridge.