Bravo to BlackMagic for showing the big boys how it's done. This is the company that RED Digital Cinema should have been but alas they've become just like all the rest.
Is it possible that they underestimated how expensive it is to innovate?
We have all had conversations about "how cheap the parts for gear are and how come someone doesn't put it together and show the big boys"
When the real world intrudes one finds things are priced where they are for a reason.
Bodies are easy to make, lenses are the hard part.
The problem with Canon is that they jerk their customers around too much with bodies. 18 MP on APS-C for what 4-5 years now? No 4k video on a professional DSLR like the 5D Mark III or the 1DX?
Canon is well known to drag it's feet with innovation, they have lenses and bodies that all their competitors from Zeiss, to Nikon to Sigma to Tamron have positivly nuked.
The 35mm Sigma has 2.5 stops better resolution that the 35mm Canon.
The 50mm Zeiss has 5 stops better resolution than the Canon 50mm 1.4 or 50mm 1.2L.
The Nikon 80-400mm has a 5 stop resolution advantage over the ridiculously old Canon 100-400mm.
The Nikon D800 nukes Canon in the megapixel department, the Sony NEX melts face off the Canon EOS M in every dimension.
How about the 14-24mm f/2.8 too?
Now the Black Magic cameras has mostly demolish Canon's video cameras. Not having RAW video is like not having RAW in photography. Canon's 1DC doesn't do raw video, and neither does Canon's c100 or c300 so for video those are the dinky point and shoots and nowhere near the quality of this camera. Canon's primary serious entry into video is their $25,000 c500, and that camera isn't full frame, it's super 35mm just like the Black Magic 4k. So BMC just released a $4,000 camera that goes toe to toe (and probably beats) Canon's $25,000 camera, which amounts to making the whole Canon cinema line up obsolete.
In fact the only reasons why Canon is still relevant are the 24-70mm f/2.8 II and the 5D Mark III, their supertelephotos and tilt shift lenses.
Don't get me wrong I used to be a huge fan of Canon and loved them and constantly sang their praises... when they actually had innovative products. Now they are just a creaky old rotting corpse that releases overpriced products that are obsolete before they hit shelves. T5i anyone?
Their only saving grace for innovation is the fact that Sigma and Tamron make lenses for them.
Canon is an embarassment and they deserve it for sitting around and developing ridiculous products like the 70-300mm DO, touch screen DSLR's, t5i, a zooming fish eye to cover APS-C and full frame in one lens (wow), their cinema lenses which are L lenses with slight modifications and 3 times the price. 1DC which is just a modified 1DX for twice the price (why did the 1DX not include all the 1DC features?), worthless EOS M that autofocuses like a joke, 18mp sensor with terrible focusing abbility in video mode (no pro video guys even use autofocus).
Canon needs to learn that one thing sells cameras. Good core products that push the bleeding edge of technology. Canon has paid zero attention to their core products in the last 3 years. Even their best body and lens the 5D Mark III and 24-70mm II were both afterthoughts. The 5D Mark III was finished a year before it was released and Canon sat on it, to milk people on 5D Mark II inventory according to official sources, and the 24-70mm II was ONLY released for no other reason than to stop constant 24-70mm I warranty claims due to copy variation and extreme decentering.
Canon's attention to it's core products has been a joke. The only semi decent core product they released in recent memory was the 1DX and then that was gimped so they could sell more cinema products which were obsolete months after they hit shelves with products like the Black Magic cameras.
Canon's product development is a sad mismanaged joke and the writing on the wall is getting ever clearer, especially combined with their new ultra greedy pricing designed to alienate customers.