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I wonder this too- the ZM25 looks to be similar in size to the ZM21/2.8, and the 25 is one long lens. Seems counter-intuitive to me that a wide angle lens would be so long, but then I'm surely no optical engineer.
I would imagine this is because the lens is a retrofocus design. Perhaps Zeiss had solid state imaging in mind when designing these WA lenses. Certainly the front elements seem to give those design cues awahy in my mind.