It's the Honda version of a Street Glide, or Road Glide Custom, as opposed to either bike in an Ultra model. I would guess that there are a lot of riders out there who want the Honda power, handling, reliability, etc., but who do not want the Tour Pack and all the extra "stuff" that makes the bike much heavier, etc. This is for the weekend tripper, or just wants the GW in a stripped down version for day rides. Honestly, the Honda Gold Wing is the ultimate touring bike from a purely functional point of view. Smooth, reliable, comfortable (for most), and with all the amenities one could possibly want/need.
I'd bet this new bike is a blast to ride. Particularly with the Traxxion package for Gold Wings...