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As someone who has been been using Drupal for 5 years (3+ as a full-time Drupal professional), Drupal 7 is the first version I've seen which leaves me feeling like nearly all of my previous Drupal knowledge counts for exactly squat now. Ok, that's a little facetious (not a lot though), but I am not being facetious when I say that it feels like there's as much new/changed stuff in Drupal 7 as there was in 4.7, 5, and 6 combined.

Please note, the only point of my comment is to underscore the point made in your post, which is that 'the drop' is indeed leaving a few people behind at this point. :-)