The DSLR revolution is the BEST thing to ever happen to video. Why? Because it allows talent (and not just people with money) to rise to the top.
My day job is I'm a director and designer for multi-media based commercials and TV spots (generic label of Motion Graphics). Until the Macintosh became powerful enough to do this type of work, it was solely the domain of companies who could afford computers like the Inferno or Flame (250K +). But around 2000, the Macintosh, along with After Effects and affordable 3D programs came along, and all of a sudden everyone could do it. It was a revolution.
The result, a HUGE explosion in creativity and the BEST ARTISTS rose to the top, and that's how it SHOULD BE.
Even with all the cheap equipment and competition, I still make a very, very good living. Why? Because I'm good. it has nothing to do with equipment, strictly talent.
The DSLR revolution is the exact same thing. It's going to allow the VERY BEST to rise to the top. It's no longer about whether you can afford a RED, it's about how creative and good of an artist you are.
And just like Motion Graphics, the evolution of video is going to be the same thing. If you suck, you can no longer hide behind expensive equipment because everyone can now afford it. So you have be good because there are going to be tons of hungry, talented people chopping at your heels.
And the best people will always make good money and have a good career. Darwin's law applied to video.
The 5D3 (if it ever comes out) is not going anywhere. It's the only full-frame video camera, so it has a very special, artistic type look with it's very shallow DOF.
With that said, Canon truly BLEW IT! They could have owned this new market, but their conservative, glacial pace, allowed Sony and Panasonic to take over what was rightfully theirs. I'm baffled by Canon, because they had to be really stupid to lose that market, and they somehow did, or are well on the way to losing it. Canon as a company, truly baffles me. How you can blow something that was such a sure bet, is beyond comprehension.