This isn’t going to be an R5c, according to Canon Watch, but it’ll be a 4K shooter that has features a bit below those of the Canon XF705, a one-inch sensor, sausage-shaped camcorder, whose prime claim to fame is a chip that can process the video into H.265 without succumbing to heat exhaustion.
The $7,000 cost of the XF705 is likely a bit higher than the cost of this theoretical new video shooter, which will rumoredly have the same size sensor, similar resolution, a couple full HDMI ports and codecs similar to the C70.