What are they smoking at FIDE?

I'd like some...

FIDE is pleased to announce that the World Chess Championship Tournament 2005 will take place 27 September - 16 October in the city of San Luis, Argentina, under the aegis of the Province of San Luis. The ongoing bidding procedure concerning the World Championship 2005 has been resolved in favour of the Luis candidacy, whose negotiation team in Athens offered on 15 April a prize fund of USD 1,000,000 for the event. The offer is backed by a financial guarantee and an agreement concerning further organizing details has been signed by Governor of San Luis, Alberto Rodriguez Saa, and FIDE President Kirsan Ilyumzhinov.

FIDE is positive that the games will be held successfully in San Luis and this year's World Chess Championship will further establish the image of chess as a competitive and educational sport not only in Argentina but in whole geographical region of South America. Towards this aim, the attractive image and the positive reputation the province of San Luis are considered as valuable assistance to FIDE’s efforts.

The format of the tournament will be an 8-player double round robin. The total prize fund of USD 1,000,000 be distributed to the players according to the final standings, as described in the official regulations, with the World Champion receiving the valuable title and the amount of USD 300,000. The final list of the 8 world-class Grandmasters who shall contend this year for the ultimate title of World Champion will soon be announced, in accordance with the official regulations of the World Chess Championship Tournament 2005.

(I tried to link directly to FIDE's website, but their server is down now.)

The eight players have been announced: Knock-out world champion Kasimdzhanov and runner-up Adams, Classical world champion Kramnik and challenger Leko, and four top players according to Elo rating - Kasparov, Anand, Topalov and Morozevich.

Some thoughts:
(1) "valuable title"? Ha ha!
(2) FIDE continues to create events without consulting players, as well as hallucinating bank guarantees on desks.
(3) Hasn't FIDE heard? Kasparov retired! (Would Svidler be offered his place?)
(4) Just a double round-robin to determine the world champion?
(5) Why would Kramnik agree to this psychotic plan?
(6) What happens after this event? There's no plan for a new cycle? Will the circus continue? Who cares if the title is "unified" if there's no system in place for finding the next challenger.
(7) Of course, Mig points out on his website that the the tournament regulations state that "The four top players will automatically qualify for the knock-out matches of the next cycle." If the knock-out format is still FIDE's idea of a world championship, then what's being billed as a unification event is nothing more than just a cheap attempt to absorb Kramnik's classical title in order to destroy it.