Embedding LUT's in the RAW is an excellent feature that I hope is adopted in other formats.
The best thing I took from this was Hoyte van Hoytema's incredible technique from the moon sequence in Ad Astra. 3D rigging a film camera and infrared Arri camera is an ingenious technique to achieve the image.
Personally, I no longer desire to shoot on film. The higher light gathering ability of modern sensors with an ACES workflow can create very clean and beautiful imagery. There is a discipline to film, and I respect it, but It is a goal I no longer desire to chase with my projects unless a director asks for it.
It's usefulness depends entire on how compressed it will be.
Most lenses are terrible at more than F8, and diffraction sets in. Not a good idea.
Yeah no thanks.
There are 3 gigantic issues with this idea that will prevent it from happening.
1) Perfect visual and audio RIPs of the film will come out within hours of the the films release.
2) How do you determine how much each theater gets as a percentage of the revenue. If you have a small independent theater near a multiplex and they are both playing Captain America how do you determine the amounts each receive? And you best have something hard in place for this or be prepared for tons of lawsuits.
3) Actors/Crew get different percentages based on distribution method, have fun fighting over how much they receive with this.