Doing the MAX was inevitable once the NEO was launched: Boeing could not afford to lose the amount of market share - and revenue - while they awaited an all-new aircraft. They have bought themselves time to mature technologies necessary for an all-new aircraft. An all-new aircraft launched today would offer only a 5% improvement in economics over the re-engined current generations and yet the development bill would be at least $6bn compared to $1bn to do the re-engining - arithmetic just didn't work. I suspect that, other than the new engines, Boeing will do the absolute minimum necessary to create the MAX while continuing to develop and stockpile technologies ready for a genuinely game-changing new narrobody for service entry in 2030. Meantime, they have an extra $5bn to do a major update of the 777-300ER in order to fend off the A350-1000.