Most of the complaints about lenses is easily solved: create a C-mount adapter and use C mount lenses. The imaging circle is almost perfect for CX. The problem is that Nikon doesn't want you to do that. C mount lenses are manual focus, and we don't have the abilities in the Nikon 1 that we'd want for manual focus, like peaking.
Neverthless, the smart enthusiasts are going to see an opportunity with C mount lenses on the Nikon 1: really small lenses. Wide lenses. Fast lenses. I've had a small handful in my closet for a long time now. Like a 6mm f/1.2 that's less than 2" long, which would be a 16mm equivalent. In a word: wow. But Nikon won't want to encourage C-mounting. So it remains to be seen whether the camera will even work with a non-automatic lens, let alone be usable in manual focus.