I don't think we know quite enough to understand whether it is a simplified version of the A2, or a new approach. My gut feel is that it is "below" an A2 in capability and ease of use, but I don't know enough to be sure of that.
It doesn't have the hi-rez viewfinder, and it doesn't have the control knobs on the left-hand side of the camera while you are using it. These same features might be accessible through menus, but not as quickly.