I can't help but wonder how they'll feel having paid for full Revit with a less expensive option now available? I have also provided support to small firms via my Revit Lifeline that LT could serve well. Still using an ancient version of another brand and probably will until retirement. I also worked for another guy once that it would fit perfectly but he'd never pay for it. Sure, there were projects or design considerations that the missing features would prove frustrating but a single seat of full Revit would probably have covered it, collaboration with outside parties that is. I worked for a firm years ago that this product could work for, a small office where each person did their own work for the principal. The intended customer is the small firm, small enough that no network licensing either is a detriment. Chief among the features that are missing are worksets, design options, rendering (only through Autodesk 360), no export to IFC, conceptual massing, interference checking, and parts or assemblies. A number of posts and tweets have run down the list of things that it doesn't have.
When you visit the product site you will see it's being paired up (suite pricing) and compared with AutoCAD LT as well as the obvious comparisons with the full featured Revit.
Users referred to it as a Revit Lite then and it seems Autodesk agreed with the branding. It is the formal repackaging of the Autodesk Labs Project Spark. Autodesk has announced a new version of Revit that they are calling LT.
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