You have to wonder why something like this hasn't appeared before. I like the happy puppy 650 VStrom a lot, but it is an unfinished bike in a lot of ways. This new Yamaha with its shaft drive and rear end supported on both sides looks good if its a bargain like the VStrom, but its got some vulnerable parts and who knows what for an electrical system. And why hasn't Honda brought back an improved TransAlp ? Its a funny business.
Lets hope BMW doesn't ever blow it and wreck IMO, the best bike on the planet.
geo
My guess is that someone at Yamaha looked at BMW's relative "market strength", which is based largely on the GS, and figured that it was a market segment that they should go after for long term stability. It is a niche market for sure, but certainly more stable than the sport bike market. Will it be unfinished looking like the Vstrom? Probably, but no more unfinished looking that the S1000R is compared to the R1.