Interesting. I wonder if this will phase out Vegas. I've always hoped they would get away from the silly name of Vegas. Some of the things I saw when trying out Catalyst were promising and it seems to handle video color space like other editing programs.
Yes, same here - my first thought that this was Vegas Pro 14 but re-branded under the Catalyst banner, which probably wouldn't be a bad thing. But then I read the press release again and noticed that it says, "Catalyst Edit provides a lean, focused video editing environment making the cutting process fast and fluent". The words "... streamlined workflow ..." and "... fast focused editing ..." are also used which suggests to me that Catalyst Edit may well be an addition to SCS's products (for fast-track editing), or an expansion of Catalyst Prepare, rather than being a replacement for VP.
READ the announcement very carefully. IN the direct verbage of Sony - this is all about seeking tools for latest workflows of 2015. Has nothing literally to do with the market that VegasPro has been settling into for years.
On the other hand some of the pros are going to want to move on up.