I have another take on this: I think the M8 is wildly over-priced, but I don't care. I like it for the way it looks and feels, because its small and portable and because it takes pretty good pictures in a wide variety of circumstances within the limitations of its format.
I have no false expectations - it is NOT as good as its price. If it wasn't for the lenses the M8 would be nothing but a pretty piece of cottage craftsmanship. In other words, the camera may not be as good as the Cosina lens it wears.
In my view the CV12 and to a lesser extent the CV15 are damn good lenses - there is simply no need to pay an inflated price for the Leica alternative (unless you're a rich geek and you're going to study the MTF charts to work out the difference).
This doesn't apply in every case (which is why my 24mm and 50mm lenses are Leicas), but please, don't damn something just because it costs less.