The OM-D E-M10 was my first mirrorless camera. I purchased the E-M10 in May 2014 and I still remember the giddiness I had when I pressed the shutter the first time.

Olympus one-upped the E-M10 earlier this morning with their announcement of the OM-D E-M10 Mark II. To me, it looks like the original E-M10 with a better electronic viewfinder, an all-metal build, 5-axis stabilization, and a rearranging of some dials. They also changed the dimensions of the E-M10 Mark II in every direction by a millimeter or two, making the current E-M10 ECG-1 grip obsolete.

These are all good things for the most part, since the original E-M10 was an incredible camera considering its retail price. The original E-M10 was so good, in fact, that my pal Álvaro thinks it was too good. It’s hard to argue his reasoning: The original E-M10 had improvements in almost every category over the OM-D E-M5 and, considering its price, was a far better purchase option than the E-M5.

But now, with the plethora of improvements to the OM-D E-M5 Mark II earlier this year, the E-M10 Mark II doesn’t surpass its bigger brother. The E-M10 Mark II feels much more like an iterative update than the expansive update of the E-M5 Mark II. And as such, I don’t blame anyone for feeling let down by today’s announcement. The E-M10 Mark II looks like a great camera, but not one which will incite current E-M10 owners to upgrade.

Even as a first purchase, I’m left wondering if the original E-M10 — at a now-reduced price — is a better buy. For an extra $250 USD, you get a better electronic viewfinder, a better build, and a better stabilization system in the Mark II. Or, if you haven’t been spoiled by an excellent viewfinder — like the one found in the E-M5 Mark II — and you don’t need an all-metal (non-weather sealed) build, I say save the cash and put it towards the Panasonic Lumix 20mm pancake lens. I still think the original E-M10 and the Lumix pancake lens are a fantastic buy.