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I think the 'Q' in the Pentax Q name stands for Quagmire because this camera is nearly impossible to categorize. On one hand, it's a great portable interchangeable lens camera system, which will appeal to more advanced shooters. Yet on the other hand, the Pentax Q has a point-and-shoot worthy 1/2.3-inch 12-megapixel CMOS sensor inside. As a result, the Pentax Q is the world's first interchangeable lens camera with the smallest sensor, and I'm not quite sure that's something worth boasting about.
Below the DSLR level, the digital camera market has APS-C sized mirrorless cameras like the Sony NEX series. Then in come the Micro Four Thirds cameras like the Olympus PEN E-P3 and Panasonic Lumix DMC-GF3 with their slightly smaller sensors. Then there's the Nikon J1 with a 1-inch type sensor. A camera like the Pentax Q is just absurd when you look at it in the grand scheme of things. Pentax didn't even opt to go for a 1/1.7-inch chip like the Canon PowerShot S100. They kept things small.