I won't deny FCPX's shortcomings, and people are going to continue to enjoy ragging on it in the near term, but every time I use it I find more really smart thinking at the core of the program.
It's not ready for everyone yet, but I see the problems of FCPX as more of a mismanagement of customer expectations than a technical one. There's too much great stuff going on in this program for it to be considered a failure by any reasonable person.
People will laugh now, but I'm not sure they'll be laughing so hard in a year or two.
That's what people said about Shake - Apple was coming up with something great (called Phenomenon if memory serves me right). Apple has abandoned the Pro market. I don't begrudge them that - I just wish they would come out and say it and we can all move on. Truthfully, we have already moved on to Adobe for a replacement to FCP and I am starting to look around for an alternative to Logic Pro as that has not received a significant update in years.