Just taken delivery of this, so just a first-impressions review at this stage.
This lens is almost identical in size to the RF 50mm f1.8 making it the joint-smallest Canon RF lens to date. For me, the whole point of mirrorless is to make it possible to create a smaller and lighter system than DSLRs with their big fat mirror-boxes. This lens epitomises that goal, and like the 50mm has quick and silent AF. I suspect it's also wider than 16mm as that appears to be the focal length after lens-corrections are applied. This is done in-camera for jpegs, so they have very low visible distortion. Raw shots however show significant pin-cushion and corner fall-off, and these need correcting if you're planning to use the lens for architecture, or anything with straight lines across the frame. However, without these corrections you also get a wider field of view than 16mm, and it's this extra subject-area that the cameras uses to allow for in-camera corrections. I've heard Canon also does this with the 24-240 which is I lens I've yet to try. So you have the choice of either a 16mm lens with very little distortion, or a wider lens (14 or 15mm probably, although not yet tested this) with significant pin-cushioning that you either live with or correct yourself.
At the asking price, this feels like a no-brainer.