Why does Panasonic's LX10 exist?

This week, Panasonic announced a new camera in its enthusiast line of compacts: the LX10 (or LX15 for some markets). It’s a successor to the LX7 and the numerous other LX cameras that preceded that one, and pairs a fast zoom lens with a bevy of manual controls. This time, Panasonic stepped up the sensor to a larger 1-inch chip, putting the LX10 head to head with Sony’s popular RX100 line.
I’m sure the LX10 is a good camera and will give Sony a challenge in this enthusiast compa