Couldn't see an 848 SF being made, I think they are struggling enough to sell the current one.
Could be just the tonic then. But I think it is a problem they will always have ... a need for a more diverse range but struggling to differentiate them on price and/or specification.
I wouldn't think the 796 spells the end of the 696 Ducati has always had 3 models in the Monster line up.
But it comes down to how different they are and what the perception is.
1000 > 800 > 600 is logical
or even ... Fridge > 1000 > 800 > 600
1100 > 796 > 696 maybe not so logical
A cynic may suggest they are trying to prop up the lower end of the market ... and/or admitting the M1100 is too expensive.