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First, this is in NO way intended to knock the f/2.8 version, which I am certain is a fantastic lens. Just food for thought for anyone still deciding which version to get. I think the bottom line is to consider your most frequent use cases.
When I decided to sell my EF version of the 70-200, to get an RF version for my R5, I really struggled with whether to get the RF 70-200 f/2.8 or the F/4 version. Yes, the f/2.8 was more expensive, but that fact really had little bearing on my decision. For me, it really came down to the fact that most of what I'd be using the lens for was landscape photography and not so much portraits. For that reason I opted for the f/4 version. After two years I have no regrets. I really do love the light weight and compact design of the f4 version. For most of what I shoot, I truly don't miss that extra stop of light. That said, if I were a wedding photographer, or otherwise did a lot of portraits where the extra bokeh and/or low light performance would have been more important than size and weight, I probably would have gone for the f 2.8. However, I do have a EF 50mm F1.4, an RF 85 f/2 and a EF 135 f/2 for those occasion where I want more background separation or better low light performance, I feel I'm covered with these other lenses. Besides, from many reviews I've seen, at the longer focal lengths, the f4 renders pretty decent background blur and subject separation anyway. As I do a lot of hiking for landscape shooting, the RF 70-200 f/4 is really the perfect solution. Your milage may vary. (PS, while money wan't a driving factor, I will add that with the money I saved, I did buy the RF 85 f/2.
When I decided to sell my EF version of the 70-200, to get an RF version for my R5, I really struggled with whether to get the RF 70-200 f/2.8 or the F/4 version. Yes, the f/2.8 was more expensive, but that fact really had little bearing on my decision. For me, it really came down to the fact that most of what I'd be using the lens for was landscape photography and not so much portraits. For that reason I opted for the f/4 version. After two years I have no regrets. I really do love the light weight and compact design of the f4 version. For most of what I shoot, I truly don't miss that extra stop of light. That said, if I were a wedding photographer, or otherwise did a lot of portraits where the extra bokeh and/or low light performance would have been more important than size and weight, I probably would have gone for the f 2.8. However, I do have a EF 50mm F1.4, an RF 85 f/2 and a EF 135 f/2 for those occasion where I want more background separation or better low light performance, I feel I'm covered with these other lenses. Besides, from many reviews I've seen, at the longer focal lengths, the f4 renders pretty decent background blur and subject separation anyway. As I do a lot of hiking for landscape shooting, the RF 70-200 f/4 is really the perfect solution. Your milage may vary. (PS, while money wan't a driving factor, I will add that with the money I saved, I did buy the RF 85 f/2.