Yeah maybe, but Canon hasn't given us good reasons for the XXD line yet. Currently, if you ask me, there is no reason to go for 70D over 760D (750D? whichever has that top LCD and 2 command dials). The 70D offers nothing but slightly better plastic and a bit larger grip?
Anyway, EOS M is not a good example here because it doesn't have a lot of lenses and you will kill your hands if you mount your EF and EF-S lenses on it (except maybe the pancakes)
Also I'm not sure if Canon is still innovating; all their new features are just taken from Magic Lantern firmware. First it's the intervalometer in the 7D2, then the bulb timer in the 5DS/5DSR, and now focus peaking in the EOS M3. These are all features that can work on all their camera bodies, but they just want to make them "premium" features, so you have to spend hundreds more dollars to get them.
My friend. 70D came out in 2013 around 2 years now (it is 2015 now). 760D haven't been release yet, it is announced. So if it make it in March or slightly later, it makes lots of sense to get the 760D and forgo the 70D, other than that, what you say is kind of funny. Comparing an old camera to a newer one and ask what is the point for a old camera... of course it had good point, it is revenue for 2 years for Canon.
760D is not a replacement for 70D, because it is targeted at entry level user, while 70D is targeted at semi-professional. And while 70D seemed outdated now, of course Canon is gonna release a newer model to replace the 70D. And that is why we are seeing different product line.
Okay, I admit EOS M is not a good example. As for Canon is innovating or not, I do not understand what you mean by this. They give you intervalometer, bulb timer and focus peaking, right? Or are you saying they don't. And if they are giving you those, then they are listening to the consumer, who wanted those. So how come you complain?
Oh... and I would really, really suggest you go through the spec of both camera before doing a comparison.
A few things that matter to some people,
1) 70D had a maximum 1/8000 sec, 760D had a maximum speed of 1/4000s
2) 70D had a maximum of 7fps continuous shots, 760D had 5fps
3) 70D had a faster flash sync speed of 1/250sec while 760D had a maximum sync speed of 1/200sec
4) 70D had a significantly larger viewfinder of 98% while 760D is smaller at 95%
5) 70D had a battery life (CIPA) of 920 shots while 760D is around half of that (440shots)
6) 70D had better weather sealing.
So... it might not matters alot to you, but to many others out there, yeah, these are show stoppers when getting a DSLR.
From what I see, 760D is a good entry level DSLR, it had all the things that are supposed to be there and alot of other extra, it is light and easy to carry around and it had all the bell and whistle of something new in the market. But it is still targeted at an entry level group of consumer, sure you can take fabulous photos with it, but can it directly replace 70D. Sadly... no.
