That's just Canon's version of the Sony RX10 and Panasonic LX1000. Based on what they have revealed so far, with the EOS M system, EOS C Cine range and now this, is a clear message that they intend to keep the regular EOS line focused on what DSLRs do best: "my camera let's me take great photos, and oh by the way I can also take very good quality video that's not really meant for broadcast quality". Sounds like a fair strategy to me. And it seems more and more that the video success of the 5D Mk II was a fluke they did not expect. We might not like it, but we're not Canon's management.
I agree with Chimski. It feels like a small Hollywood film rather than an indie. That might have been the makers' intention, I dunno. If so, then I say they have accomplished their objective. The story and dialogue is weak, though. The ending isn't as much of a surprise as it should have been because of this.
When you talk about "low budget", how low is it, exactly? Because the results don't look like sub-10k budget, to me, which is my definition of "low budget".