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Part of the reason is that it ran concurrently to the X-T3 and that has a better sensor, AF etc.
People (in my head at least), look at both and in my head in getting the X-H1 I would essentially paying more money for an X-T2 when the same money could get me an X-T3. Despite the IBIS.
After buying an X-E3 with a two f2 primes a couple of years ago I found I was regularly taking that out while the DSLR kit stayed at home. The Fuji kit felt familiar being very much like the Pentax and Nikon film SLRs I'd used since my teens. So much so that I fairly recently bit the bullet, sold all my DSLR kit and moved completely to Fuji.
The X-E3 is great in being very compact and fairly inconspicuous but it lacks some features I had been used to in the DSLR so (coming to the point at last) I decided to get an additional Fuji body. The choice was X-T3, X-H1 or the newly launched X-Pro3. The X-H1 seems to be well regarded on the Fuji X Forums and is very well spec'd and recently keenly priced but as soon as I handled it I could see that it was very little different to the DSLR I'd given up and therefore missed the whole point of the Fuji move. The X-Pro3 does appeal but being so new it carries a high price ticket. So that left the X-T3 which ticked most the boxes apart from its lack of image stabilization. I opted for the X-T3 whilst also keeping the X-E3.
Having gone through that process I do find it hard to see why anyone would give up good DSLR kit to move to a X-H1. From Fuji forum comments the X-H1's IBIS (that most DSLRs have, not to mention most compacts) is the main appeal. Hmmm. Not enough.
Hopefully the next X-T will incorporate IBIS as not many Fuji lenses have OIS - we'll see.
When I decided to look seriously at the cost, faff and risk of a move to a new brand I looked at the T3 vs H1 choice in (probably too much) depth and on paper, the T3 definitely takes the edge. When I got away from the pros and cons and into the real world of working with it every day, the choice for me was made in a heartbeat. The H1 feels exactly how I like a camera to be. It's a tough, rugged and a very reassuring lump to hold and create with and even though that makes it larger and heavier than it's cousins, it's more or less halved the weight and bulk of a two body/6 lens type kit.
It has that feel of a precision engineered tool that you get with the EOS 1D series, its quicker to react than any of the 5D cameras and in the last couple of months of using it, not one client (and they're all regulars) have noticed they're not getting 5D mk iii or iv files.
But..... coming back to the beginning. Its definitely not going to tick all the right boxes for the majority, it's not a pretty camera and you can get quite a few cameras with the same sensor that are a lot smaller.
However.... I thought the new price was worth a mention
Returning to your opening post, yes the current X-H1 deals are unmissable for anyone who fancies that camera.
At the risk of derailing my own thread, I hope the sales failure crown isn’t stolen by the X-Pro 3. That’s definitely a bold statement.
I’ve been EOS since my 100, the film one. I’ve had all sorts of other stuff to play with along the way but work has always had an SLR Canon kit and arriving at the first job with the Fuji felt like I’d been changed from right to left handed overnight. Amazing how much we do on muscle memory
For those without a camera already though it's an absolutely cracking deal.
Though to be fair I don't find IBIS that useful for much of my stills shooting apart from long focal lengths - and my 50-230mm and 50-140mm f/2,8 both have IS anyway. But for video work without a tripod IBIS is really great. Had a Panasonic G80 for a while and the IBIS combined with the IS in the 12-60mm made video look like it was shot on a steadycam.