Also note that Canon does not manufacture the 1" sensor. The sensor comes from Sony. So the G7x should be on par IQ wise with the rx100 series. We will see. Not to mention the longer 100mm focal length vs 75mm. And according to DP review the effective aperture throughout the zoom range beats the sony rx100 m3 wide open and even competes with the G1x up to the 35mm mark. Factor in the touch screen for focusing and the $100 savings over the sony I say that Canon has done a great thing here. The only thing missing is the EVF which may or may not be important to buyers.
On another note the panasonic lx100 delivers the total package albiet in a larger package. It will likely cut into Fuji's x100t sales a bit as well as sony and canons 1" sensor offerings. I also believe it will prove to be a truely competent second camera/backup camera to a dslr user without lacking controls,features, and high IQ.
As a buyer in the marketplace right now though the deciding factor will ultimately come down to form factor(size) vs specs(IQ). For me I pre-ordered the Panasonic lx100 but my second choice would be the Canon g7x. Im ready to see some sample shots online and hands-on reviews pop up on youtube that may convince me to change my mind!
Canon 5d mark I, Canon 60d gripped, Tokina 11-16mm 2.8, Canon 50mm 1.8, Sigma 85mm 1.4, Sigma 35mm 1.4 ART, Rode videomic, Glidegear