Exactly right. This is the future, and it's not that far away. This is why I've said before the 1Dx is the last conventional stills DSLR Canon will ever make. The 1Dx is good enough that it will bridge into this form of photography/videography that will become common in that high end professional market.
Reading this and watching the video makes me feel extremely primitive in how I make pictures. What I strive for in head-hunting street photography is that real moment, that "micro-expression" that is so recognizably REAL! For me, that's what makes a good picture. Even shooting honest 10 FPS stills it can be missed -- if you were fast enough to achieve AF to begin with.
I'm going to predict the next summer Olympic games will see many image producers using these kinds of tools. A company like Reuters will jump at the chance to have video to go along with the stills they can provide clients -- and all of it coming from one camera.
Maybe 10 years from now people will look back at the tools we covet today and think it was the stone age.
What is not important here is what this camera can or cannot do. What is important is the shift in direction and marketing that this camera brings. It is true that a camera that can take continuous footage at a decent resolution will change a lot of the photo industry. Canon sees this, and that is where they are heading. If I were younger and had a desire to move into a cutting edge industry, I would probably mortgage the house and buy two of these things with a heck of a lot of memory cards. I would start marketing myself in a way that differentiated myself from my competition, and as technology catches up, I would employ that too. With an existing client base and experience at this craft, you would be at the forefront ready to handle raw video 5K, or whatever is next. Who knows, the future hardware could shoot 5K at 24FPS and then when you press the stills button you get a temporary bump to 60 FPS with multi-exposure blur to still have smooth video and still be able to use a high shutter speed for great stills. Its possible. Some company will figure this out, and things will change.
Exciting stuff. Too bad I am old, tired, and in a different industry.