This is not exclusive to the new M2 iPad Pro. With iPadOS 16.1 I have it on my M1 iPad Pro 12.9
Fans of Japanese manga will find this kind of thing very familiar (e.g., Liar Game). It's amazing that it's only now that it is becoming a hit show. I'm sure Hollywood will now race to make shows based on the tons of manga out there with this type of story.
I'm guessing that it will only support 422 LT and 422, but not HQ due to storage requirements. ProRes RAW would allow for maximum IQ without much higher data rates, but I suspect that will never happen because they would have to pay Red for the internal RAW patent. Still, anything is better than recording to a delivery format like H.265
A better comparison would have been to the Red Scarlet-W. For about the same price, you get 5K, a proper RAW format, and excellent image quality.
Also, the Alexa sensors were quite amazing considering they're 7 years old now, but it would be pretty boring if everything had the "Alexa look"
The point of my original comment is that whether it's an Alexa, an A7s, or 35mm film, HDR acquisition has been here for a long time and Arri isn't in a league of their own.
It's all about creative choice. The Alexa has nice highlight rolloff and great color, no doubt. Red Helium has very clean shadows. Alex is measuring about 14.5 stops on a DSC Xyla 21. The Red at least as much (http://www.reduser.net/forum/showthread.php?149166-Weapon-cf-vs-Helium-X...). The technicalities miss the point. It's about the look and what you can do with it.
So what do you want to do creatively? David Fincher loves the Red, and others swear by the Alexa, Nolan and Pfister are loyal to film. For me, I've shot on Red, Alexa, Sony, etc. For me it all depends on the project. Heck, I'd love to do a project on 16mm. Black Swan looks great.
Until someone comes out with a camera that has 20+ stops with clean high ISO and great highlight rolloff, we have tons of great options out there, and the all can produce amazing HDR.
In that way it's exciting times. You can't blame the camera, regardless of which you choose. Arri's marketing video is a testament to the amazing talent of the photographers, rather than that their tech is better than film or Red or whatever.
You're exactly right. We have great tools to work with. Cameras have become so capable that they're becoming the new "film stock." You can now choose what fits your creative direction. Max Mad used nearly every camera out there from BMCC to Alexas. Deakins used A7s's for nightvision in Sicario. Wonderful that you can have 400k ISO and 13.5 stops on a mirrorless camera. So I am very happy that we live with so many incredible options to enable our creativity