Judging by the specifications, they tried to make a consumer FF model which would share — only a RF mount with the older (and more expensive) brother, Canon EOS R:
It’s a sad philosophy, but the Big Two (Canon and Nikon) does not want to give its best to the customers, while are eager to crank up price of consumer models to a professional level. Canon executives confirmed this in an interviev for the Imaging-Resource.com
Canon pointed out that 65-70% of the US camera market is still DSLRs, and that they weren't about to abandon that, while they're coming up to speed on mirrorless technology. They're watching carefully, and will be guided by their users' requirements.
Sony and Panasonic, who never had a DSLR in their production line, are not bound to keep reflex camera market, and are currently offering far better models. Fujifilm discarded the idea of FF mirorless camera, and specialzed at fantastic APS-C and (relatively) cheap meadium format cameras.
So, how shall we pronounce Canon EOS RP? Canon RiP? Canon RiPoff?
Why am I still hoping they are goint to come to their senses? Oh yes, because of the excellent line of RF lenses. They will have to wait for a decent body design…