As an offline tool it would be fine if it had XML, OMF, or even a text file EDL output! AS it stands much of FCPs business was the corporate/low budget video world where the final output came out of FCP. Finishing in those markets means putting a sticker on the DVD! Those markets, the bread and butter of FCP are the ones hurt the most by these changes.
Honestly this was probably a smart move by Apple because they were not making enough money off broadcast, feature film, and corporate video users. They have not abandoned all professional users though – wedding videographers are absolutely professional users if they are making their living off what they do, and ditching output to XDCAM and Betacam will probably not hurt their business model. Your average wedding videographer also does not need feet+frames timecode with EDL export for negative cutting, post conforming, etc….
Apple may be throwing the broadcast, feature film, and corporate customers away with the redesign but I guarantee that they will be making way more money off the new consumer I shot this on my flip cam iPhone android market.