Aaron, actually the first generation WILL have 4k - but - and this is a big but - it will only use 1 of the 16 modules for shooting video. So it won't have all the capabilities of using 10 sensor modules at once.
They say that is coming later in another model.
It makes sense tho because they need to get the photo algorithms working before they jump to video.
Hey! planetMitch here - I just launched a new site covering the Light... and I just posted my analysis of the images coming out of the Light L16... pop over if you're interested. I'll be happy to answer questions if you'd like, I'll pop in now and then to check https://lightrumors.co/2017/04/19/new-light-l16-images-should-we-be-impr...