The Z5IIC hit stores this past weekend, and quite a few stores managed to immediately sell out their initial shipment. Every store I’ve talked to so far is a bit surprised (and happy) that the camera had clear demand up front.
But the online forums are still full of “Nikon shouldn’t have made this camera” posts. Clearly Nikon should have made this camera, because there are customers that wanted it.
I’ll reiterate my previous statements after using it: it’s a decent camera, and I regard it as a very usable “compact" with the right small lens (e.g. 26mm f/2.8). Yes, it's a big compact, but by the time I added a usable grip to my Fujifilm X100VI, it too was a pretty big and heavy compact.
But let me put a point into context, given that I’ve used almost every “compact” on the market. When I’m on safari or on the sidelines, I have two big Nikon bodies with big lenses. I still have need for ~24mm (maybe as long as 35mm), and that need has generally been served by something I can stuff into my vest pocket. Now for the first time I can stuff something into that pocket that uses the exact same controls as my bigger cameras. I’m happy with that. Moreover, it uses the same batteries as my other cameras are using.
So, yes, you may find me wandering the stadia and savannah with a Z5IIC. Your mileage may vary.