Its actually less pocketable than the RX100 AND its less featured.....
"Sadly, although not surprisingly, the QX100 is a JPEG-only device. And not only is RAW mode unavailable, manual exposure control is limited too, to aperture priority and exposure compensation. There's no shutter priority mode here, nor fully manual (even though we can't see why there couldn't have been). HD video recording is available at 1440 x 1080 resolution, reduced from the standard 1920 x 1080 found in most compact cameras (including the RX100 II)."
Trying to figure out (other than price) how the QX100 would be an advantage over a wifi connected RX100. So while one simply pulls out a P&S camera from their pocket, the QX100 is being mounted? Also, their Sony Playmemories app is very simplistic... hopefully it will improve. Despite what their marketing material eludes too, its not like shooting with an enhanced camera phone... You snap a picture, save it, open it in your app, do stuff to your photo, and then share it. Its a multi-step process. In other words, its not 100% integrated into the cell phone like the built-in camera phone.
I personally think Samsung is on the right track with their Galaxy S4 zoom design. Don't tack on a camera... make the phone THE CAMERA.
I think Sony is on to something with this product. If anything, it might bring more customer back to real cameras and good quality pictures. No matter how good a phone is the pictures are never nice in anything but broad daylight.
As for the RAW support, do other wifi camera support it ? The RX100m2 does not support raw via wifi either. And given the limited memory on a phone, the small screen size, jpeg should be perfect for the application.
It's been a while since Sony innovated with a novel product like this one. I like this new direction.