I believe that the lens is not designated as L for marketing reasons and belonging to the EF-S line of lenses. Everything else here is at the highest level: both optical quality, and quality, and ease of use. In general, the combination of a good crop camera and this lens looks quite good compared to a full-frame camera and a Canon EF 24-70 / 2.8L II USM: 1. Significantly lower price of the kit. Slightly less weight. 2. Excellent optical quality. Both sharpness and color reproduction. 3. FR - for the hero of the review EGF 27-88 - slightly worse in the wide-angle position, but much better in the tele-position. The bokeh will be weaker, but the transfer of space is much closer to the classic portrait focal lengths of 85-100mm. 4. There is a stabilizer here! In a word, an excellent combination for fast and efficient shooting of reports and celebrations, for example, especially if there are no lens changes. For crop cameras, I find it much more attractive than the Canon EF 17-40 / 4.0L USM.
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