Concurrent with the launch of Final Cut Pro X yesterday, Apple discontinued both Final Cut Express and Final Cut Server. Final Cut Express was Apple's "lite" video editing program, meant to bridge the gap between the free iMovie and $999 Final Cut Studio package.
With Final Cut Pro now priced at $299, Apple clearly felt that a bridge program was no longer necessary.
Both Express and Server are unavailable on the Apple Online Store, and their both of their old product pages on Apple.com redirect to the new Final Cut Pro page.
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iMovie is only 'free' if you purchase a new Mac when, arguably, the cost is absorbed into the whole package. To upgrade you need to buy iLife when, arguably, it's only free if you consider other parts of the suite to be the full value.
It's odd though, because throughout all these years, instead of enriching iMovie, Apple has continually dumbed it down (especially feature-wise). The interface is fun and all, but simple things like limiting clip speeds to a minimal spectrum (for one), is ridiculous, even for amateurs. Instead they replace those features with gimmicky 'trailer templates' and 'highlights' and fun stuff like that.
It's unfortunate that Apple is calling this Pro, it should be Express and there wouldn't be the hissy fits going on. I feel bad for the Pro market, they've been pitched over the side at this point.
Here's the call on it more than a year ago:
http://www.appleinsider.com/articles/10/05/18/apple_scaling_final_cut_studio_apps_to_fit_prosumers.html
The PRO in the name, combined with the lower price, attracts all those who think, "wow I can get FCP for $300? I'm in!", and have no need for the advanced features and tools that are needed in a multi-user environment.
As of yesterday that product was called Final Cut Express.