Originally posted by normhead I think it would kill the company not save it. There will aways be people that people an OV. The people who will switch to use an OV is potentially larger than those who want one but haven't purchased one yet.
There is likely more upside staying with the OVF as others have stated. Mirrorless is so saturated with companies with vast resources and various lengths of head starts that despite a large addressable market, Pentax's strengths are likely to not bear fruit.
There seem to be a few different proposals floating around:
K-3/K-1 but swap out the mirror and OVF for an EVF - keep Pentax ergonomics (appears to be one of the most universally praised / least frequently panned qualities) but lose access to potentially modern shorter registration distance lenses and therefore cannot adapt other SLR or rangefinder lenses easily (popular cottage industry for those who aren't shelling out for new lenses - many Pentaxians can relate). Alienate OVF users (potentially any Pentax shooter today).
K-3/K-1 but create short registration K-mount and adapter - Canon and Nikon went this route - their ML cameras have a good bit of DSLR DNA in them. Nikon/Canon are also building out their mirrorless lens ranges while offering fairly painless backward compatibility with EF/F lenses (though Nikon omitted screw drive). Pentax may not have the resources to pull this off, and even if they could, the MO of many people familiar with Pentax is to stick to K mount lenses for too long to give Pentax a chance to recover its investment.
Brand new ML - Sony more or less started their ML from scratch comparing against their pre-ML Minolta-inspired bodies. They spent years building out a very broad body and lens range, and just like Canon/Nikon, their high end GM series is the most visible. I actually think my K-01 isn't particularly terrible - if it got more real Pentax ergonomic guts and an EVF, maybe that's viable?
L mount - is this a lens and/or body play for Pentax? How many buyers would choose a Pentax lens over Sigma, or a Pentax body over Panasonic, and wouldn't have chosen K mount if that was Pentax's only offering?
What could Pentax offer that these companies could not for ML? Pentax cannot easily go head to head on specs, which leaves their branding/legacy, design, or price. Price is almost certainly a no-go. Brand is a wild card but would likely lean on being a bit eccentric/nostalgic - no guarantees it will resonate with those who can afford to pour money into Pentax (who weren't already sold on the brand).
This leaves design - The K3-III can act like a boxy mirrorless. It would be awesome to have some sort of transparent OLED overlay in the OVF for edge detection/peaking, zebra, face/eye detect, etc., but that's another engineering effort (time and money) and every bit of light that feeds this system makes the optical view that much dimmer (ML doesn't need to split the light, except for very minor artifacts for phase detect). To compete with true ML, Pentax also needs on sensor phase detect AF.
The other design wild card is 645 - people are adapting 35mm lenses to GFX because some can cover 44x33. If Pentax goes ML, I think 645 is the most viable option because there is primarily just Fuji to contend with. With native adapters for K mount and 645 (with or without speedbooster), it would afford a lot of flexibility and make spec comparisons harder against the 35mm ML cameras, which is what Pentax needs. For now, Fuji can get away with worse AF, FPS, and video than 35mm ML by focusing on the sensor and the lenses (not dissimilar from the niche of 645 in the film days). Not going to be cheap, but 35mm ML is saturated and succeeds on strengths that do not align with Pentax.