Sony's DCR-DVD7E digital camcorder

Sony must have been looking for something to keep all those old Discman factories busy, because is it us, or does their new Handycam DCR-DVD7E (which records directly onto 8cm DVD-R, DVD-RW, and DVD+RW discs) look like somebody just slapped a lens on a portable CD player? Also sports a 2.5-inch LCD around back, and should be out by May of next year,
at least in Europe.